The United Stock Exchange of India (USE) is an Indian stock exchange. It is the fourth pan India exchange to be launched for trading financial instruments in India over the last 140 years.
USE has received final approval from the market regulator SEBI to start currency futures trading. USE represents the commitment of ALL 21 Indian public sector banks, private banks and corporate houses to build an institution of standing.
USE also has Bombay Stock Exchange as a strategic partner.
Public Sector Banks that are stakeholders of USE include Allahabad Bank, Corporation Bank, Punjab National Bank, Andhra Bank, Dena Bank, State Bank of India, Bank of Baroda, IDBI Bank, Syndicate Bank, Bank of India, Indian Bank, UCO Bank, Bank of Maharashtra, Indian Overseas Bank, Union Bank of India, Canara Bank, Oriental Bank of Commerce, United Bank of India, Central Bank of India, Punjab and Sind Bank, Vijaya Bank. Private Sector Banks like Axis Bank, Federal Bank, J & K Bank, HDFC Bank. Corporate Institutions such as Jaypee Capital, MMTC and India Potash are also associated with United Stock Exchange.
USE launched its operations on 20 Sept 2010.
USE began operations in the future contracts in each of the following currency pairs:
- United States Dollar-Indian Rupee (USD-INR)
- Euro-Indian Rupee (EUR-INR)
- Pound Sterling-Indian Rupee (GBP-INR)
- Japanese Yen-Indian Rupee (JPY-INR)
There would be 12 contracts i.e. one for each of the next 12 months in each of the above currency pair
Outright contracts as well as calendar spread contracts are available in each pair for trading.
Source: http://en.wikipedia.org/wiki/United_Stock_Exchange_of_India
No comments:
Post a Comment