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Bombay Stock Exchange Launches FX Futures

The Bombay Stock Exchange (BSE) launched its US$/INR currency futures contracts on 1 October, with 65,000 lots, worth an underlying $65 million, traded on day one.

The contract specifications – sized at $1,000 – are the same as those of the National Stock Exchange of India which launched its contract on 29 August and which achieved similar volumes on its opening day (Squawkbox 1 September).

BSE and NSE are rivals over the country’s equity markets, with NSE holding 98% market share of equity futures and options business and around two thirds share of cash equity trading volumes.

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