MANU/SDER/0005/2016

Ministry : Securities and Exchange Board of India

Department/Board : Market Regulation Department

Circular No. : SEBI/HO/MRD/DP/CIR/P/2016/0000000038

Date : 09.03.2016

Notification/ Circulars Referred : A.P. (DIR Series) circular no. 35 dated December 10, 2015 MANU/APDR/0094/2015;Circular CIR/MRD/DP/04/2015 dated April 08, 2015 MANU/SDER/0002/2015;Circulars CIR/MRD/DP/20/2014 dated June 20, 2014 MANU/SDER/0003/2014;CIR/MRD/DP/30/2014 dated October 22, 2014 MANU/SDEP/0032/2014;Circular no. SEBI/DNPD/Cir-38/2008 dated August 06, 2008 MANU/SDER/0010/2008

Citing Reference:
A.P. (DIR Series) circular no. 35 dated December 10, 2015 MANU/APDR/0094/2015  Referred

Circular CIR/MRD/DP/04/2015 dated April 08, 2015 MANU/SDER/0002/2015  Referred

Circulars CIR/MRD/DP/20/2014 dated June 20, 2014 MANU/SDER/0003/2014  Referred

CIR/MRD/DP/30/2014 dated October 22, 2014 MANU/SDEP/0032/2014  Referred

Circular no. SEBI/DNPD/Cir-38/2008 dated August 06, 2008 MANU/SDER/0010/2008  Referred

To,

All Stock exchanges and Clearing corporations,
All Depositories.

Dear Sir/Madam,

Introduction of Exchange Traded Cross Currency Derivatives contracts on EUR-USD, GBP-USD and USD-JPY currency pairs and Exchange Traded Option contracts on EUR-INR, GBP-INR and JPY-INR currency pairs

Reserve Bank of India (RBI) vide A.P. (DIR Series) circular no. 35 dated December 10, 2015 has permitted recognised stock exchanges to offer cross-currency futures and option contracts in the EUR-USD, GBP-USD and USD-JPY currency pairs. RBI has also permitted recognised stock exchanges to offer currency option contracts in EUR-INR, GBP-INR and JPY-INR currency pairs, in addition to the existing USD-INR pair.

2. In view of the above and after deta........