MCX-SX records highest turnover for currency derivatives

MUMBAI: MCX-SX today registered a record turnover of Rs 10,798.05-crore for currency derivatives, a company statement said here.

The volume on the NSE, which launched currency futures first in India in August 2008, was Rs 9,857-crore today.

Today MCX Stock Exchange has achieved a record turnover of Rs. 10,798-crore--the highest by any exchange in the currency market segment. This record coincides with our first anniversary and I would like to reiterate our belief in systematic development of markets via information, education, innovation and research. This philosophy has been our secret to success, MCX Stock Exchange Executive Director, U Venkataraman, said in a statement here.

MCX-SX used the approach of orderly market development and become a market leader with an over 50 per cent market share, he said.

Currency futures trading was launched in India on August 29, 2008. Volumes have grown exponentially after all exchanges went live. After MCX-SX started operations, the market has witnessed a rapid growth.