MSE gets Sebi nod for weekly options on currency products

MUMBAI: Metropolitan Stock Exchange (MSE) has received approval from Sebi to launch weekly options on US Dollar–Indian Rupee (USD-INR) and two new currency products. The exchange is introducing a weekly hedging product – Currency Options on USD-INR, which will enable participants to reduce their cost of hedging. The weekly options contracts on USD-INR will complement the existing monthly contracts that expire two working days prior to the last business day of the month. MSE has also been allowed by Sebi to introduce monthly Currency Options contracts on currency pairs of EUR-INR, GBP-INR & JPY-INR.