The Bombay Stock Exchange (BSE) has decided to waive transaction charges for its newly-launched currency and interest rate segments.
The exchange has announced there will be no transaction charges on these segments for a period of six months, presumably in a bid to encourage more trading in these products
“Transaction charges shall not be levied for a period of six months from November 29, 2013 for trades done in currency and interest rate derivatives in the interest of market participants and securities market," BSE says in a circular.
The exchange launched the platform for trading in currency and interest rate derivatives last week. BSE is the fourth bourse to start trading in these segments after the NSE, MCX-SX and United Stock Exchange.
On November 29, the first day of launching the currency derivatives segment, BSE clocked a turnover of Rs 325 crore.
In its currency derivatives segment, BSE offers trading in contracts of Indian rupee with US dollar, euro, British pound and Japanese yen, among others.
BSE’s currency platform will allow trading on all week days between 9 am and 5 pm barring the day of expiry of contract, when the trading will be stopped at 12.15 pm.