+ Expand AllCurrency FAQs
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QWhat are the available cross currency pair for trading?A
Below given top 3 global cross currency pairs will be available to trade on NSE
- Euro-US Dollar
- British Pound –US Dollar
- US Dollar –Japanese Yen
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QIs options contracts to be listed on cross currency pair ?A
Yes! Both futures and options contracts will be available for trading.
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QWhat will be the base currency in any cross currency pair contract?A
First currency in the pair is always the base currency and the second is always the quote currency. Ex. While trading EURUSD, price shall quote in USD for 1 Euro
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QWhat will be the tick size?A
Please find below given details for tick size for cross currency pair .
- EURUSD = 0.0001
- GBPUSD = 0.0001
- USDJPY = 0.01
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QHow many contracts are shall be available for trading?A
12 monthly contracts shall be available for futures. For options 3 monthly & 3 Quarterly contracts shall be available.
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QWhat is the market timing?A
Contracts shall trade from 09:00 AM to 07:30 PM, Monday to Friday
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QWhat will be the contract expiry date?A
Contracts shall expire 2 days prior to last working day at 12:30 PM
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QHow settlement works for cross currency pair ?A
Contracts are quoted, traded in foreign currency however settlement is in cash in Indian Rupees only. Profit/Loss in foreign currency shall be converted to INR using applicable RBI rate for the day. RBI rate shall be available after 12:30 PM before that PNL shall be calculated based on previous day reference rate.
- RBI rate shall be available after 12:30 PM
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QHow MtM settlement will work?A
Daily MTM shall be converted to INR based on RBI Reference rate / Exchange rate
- For EUR/USD & GBP/USD, using USD/INR RBI reference rate
- For USD/JPY using JPY/INR RBI exchange rate
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QHow premium settlement will work?A
Net premium shall be payable/receivable on T+1 day based on RBI Reference rate.
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QHow futures MtM settlements will work?A
Open future positions are marked-to-market at daily settlement price. Daily Settlement price = Last Half Hour Weighted Average Price. In absence of last half hour trading, theoretical price shall be considered
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QWhat is final settlement price?A
Final settlement price shall be computed using RBI rate at 12:30 PM on last trading day. For example if RBI rate for USD/INR = 67.7 and EUR/INR =73.5 then EUR/USD rate will be calculated as (EUR/INR)/(USD/INR) i.e 73.50/67.70=1.09.
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QWhat is the margin requirement for cross currency pair?A
For futures customer need to pay Initial Margin + Extreme loss margin and for options Initial + Extreme loss margin + Assignment Margin. Please note that Till 2PM of any trading day Margins collected in INR based on previous day RBI rate and post 2 PM Margins collected in INR based on same days RBI rate.
- Mandatory by SEBI
- Easy Portfolio Management
- Security of Equity Investments.