Country's leading commodity bourse MCX today said it has received approval from market regulator Securities and Exchange Board of India for futures trading in currency.
"MCX has received Sebi's approval for its subsidiary 'MCX Stock Exchange Ltd', which had applied for currency derivatives," Multi Commodity Exchange (MCX) promoter Financial Technologies said in a filing to the Bombay Stock Exchange.
Currently, the National Stock Exchange (NSE) is offering trading in currency derivatives.
Last month, a joint panel of RBI and Sebi had decided to introduce currency futures in stock exchanges to manage volatility in the value of rupee.
Currency futures are forex derivative contract to buy or sell one currency against other on a specified future date, at a price decided in the contract.
Shares of Financial Technologies were trading at Rs 1,399.85, up 1.29 per cent in early morning trade on the BSE.
