Indian exchange wins approval to launch currency options

(Reuters): India’s MCX Stock Exchange (MCX-SX) has received approval from the market regulator and central bank to launch currency options on its platform, the exchange said on Sunday. The approvals will allow the exchange to expand its currency derivatives business by introducing options in the dollar-Indian rupee currency pair, MCX-SX said in a statement, adding that it will soon announce the launch date for live trading.

Last month MCX-SX, which began trading in 2008 with currency futures, said it had won approval from regulators to start trading equities, equity futures, interest rate futures and wholesale debt products.

MCX-SX is controlled by the Multi-Commodity Exchange of India, India’s biggest commodity bourse, which raised $135 million in an initial public offering in the local market earlier this year.