Standard Chartered Bank, India’s largest international bank, was amongst the first to transact in the Currency Options market on the National Stock Exchange today. Standard Chartered struck its first transaction at the open of trade, when it dealt an option contract at strike 41.5 for November 2010 maturity.
A currency option is a contract that allows the buyer the right but not the obligation to buy a currency at a pre-set price either on or before a fixed future date. The buyer can execute the option if it is in the buyer’s favour only. The buyer pays a premium for this right.
“The option to trade in currency options further adds to the breadth and depth of the Indian financial markets, by expanding the suite of risk management solutions available to market participants,” said Rohan Naik, Trader - Foreign Exchange, Standard Chartered. “We welcome the move, and will continue to work actively towards the development of the financial markets.”
As India’s leading international bank, Standard Chartered offers a best-in-class product capability backed by a strong local franchise and powerful network that positions us as a leader in providing value-add strategic solutions.
Standard Chartered Bank in India
Standard Chartered Bank is India’s largest international bank with 90 branches in 33 cities, a combined customer base of around 2 million retail customers and more than 2,000 corporate and institutional relationships. Key businesses comprise Consumer Banking, including deposits, loans, wealth management, private banking and SME banking; and Wholesale Banking, which includes cash transaction banking, treasury, corporate finance and custody services. For more information, visit www.standardchartered.co.in.
