¨¹ Mr. Venkataraman, Chief Executive Officer, MCX - check

Author: admin Add date: 05/01/2009 Publishing date: 05/01/2009 Hits: 1

MCX Stock Exchange (MCX - check) is recognized Stock Exchange and the Securities and Exchange of India RBI, and has allowed the currency exchange transactions is derived from 2008.The since October last year to enable the exchange of importers, exporters, investors, companies and banks to hedge exchange rate risk of greater transparency and security. A large number of banks, companies, brokerage firms and trading members of the actual users, MCX - check to provide the necessary liquidity and depth of all categories of users. In addition, MCX - check to ensure settlement of all transactions, which will enhance safety and eliminate counterparty risk. In addition to a large number of users, MCX - check is also conducive to small and medium-sized enterprises (SMEs) so far no one can easily obtain the foreign exchange market. MCX - has been taken to promote multi-commodity exchange of India Limited (MCX) and Financial Technologies (India) Limited (FTIL). In MCX - check the foreign exchange futures trading platform brings a new vitality and innovative spirit of the foreign exchange market. MCX - check to believe the system development of the financial market in India through education and research, and, accordingly, has taken various measures to ensure that this important financial tool used by market participants and more effective. ¨¹ Mr. Venkataraman, Chief Executive Officer, MCX - from the exchange of supervisory functions in addition to the strategic development of foreign exchange to meet its purpose of systematic development of the financial market in India through information, innovation, education and research. Catala text Mr. Mann served as vice president and head of the Ministry of Finance in IDBI Bank. IDBI Bank in his leaps and bounds with more than 12 years, Mr. Venkataraman successfully led one of the largest U.S. banking industry in India oil bonds. He was involved in strategising, to guide and supervise the group of dealers to participate in the fixed income, foreign exchange and derivatives in addition to increased customer acquisition and foreign exchange cash flow. He also played a major role, structure and management of derivatives book in addition to providing monetary and interest rate risk management solutions business. Before joining IDBI Bank, Mr. Venkataraman was with Union Bank as its chief trader in the international division of labor. A graduate of business management, Mr. Venkataraman held key positions in major financial forums in the past. He is chairman of the organizing committee, the Asia-Pacific Exchange the General Assembly (2000) and the Exchange Association of India (2001-2002), part of the airport in Paris. He is also a certified associate of Indian banking and finance. Speaking with Anil Mascarenhas of India Information Mr. Venkataraman said, the foreign exchange futures ready to take a major role in growth, India's securities market. Let us briefly introduced foreign exchange derivatives in India. Currency futures is the latest product introduced by India's securities market. In the world, trading foreign exchange futures market is a huge and rapidly growing economic and financial in India, it is poised to assume a major role in the growth, the Indian stock market, and further to mature and deepen the financial markets . Any company or resident in India, including banks and financial institutions can participate in foreign exchange futures markets. At present, foreign institutional investors and non-resident Indians shall not participate. Exchange-traded currency futures, trading platform is more transparent, and provide enhanced mobility and easy access. The Exchange also eliminates the risk of default opponent. At present, there is only one currency pair - USD / Indian Rupee - transactions, the exchange of a lot size of 1000 U.S. dollars, and the three links - MCX - check (MCX Stock Exchange), neuron-specific enolase (National Stock Exchange) and BSE (Bombay Stock Exchange) - the trade platform. MCX - get together to promote India's largest commodity exchange, MCX (Multi Commodity Exchange of India Limited) and FTIL (Financial Technologies (India) Limited). MSX check is recognized Stock Exchange under section 4 of the SCRA, is currently authorized to operate in foreign exchange derivatives market. RBI's foreign exchange is also authorized under Article 10 of the Federal Emergency Management Agency to carry out activities related to the transaction and currency futures contracts. Globally, many may be trading in other currencies. What are the improvements to what When regulators allow, we will introduce in other currencies. In the global foreign exchange market, currency trading at the same time, many financialcenters terms of basically the same. Have different financial systems and infrastructure, through the implementation of these transactions, as well as the currency in which to hold. In India, only USD / Indian Rupee contract for the transaction. Other currencies such as euro, Japanese yen, pound sterling and the Swiss franc in France will be introduced to the regulatory agencies when the need to introduce the same. One of the important measures for the development of the market can extend its trading hours to cover the time zone of the London and New York foreign exchange market. In addition, participation in inter-departmental, the scale of the introduction of a number of contracts should be considered. This progress is beneficial not only to participate but also to create an in-depth money market.

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