BSE logs currency derivative turnover of over Rs 10,500 cr

For the second time this week, BSE emerged as the largest exchange in currency derivatives trade by notching up a total turnover of Rs 10,530.53 crore today.

Helped by faster speed and lower transaction fees, BSE saw 16.68 lakh contracts worth Rs 10,530.53 crore on its currency derivative segment today.

In comparison, its nearest rival the National Stock Exchange (NSE) registered Rs 9,861.2 crore turnover from 15.12 lakh contracts. The exchange is generally the preferred bourse for currency derivative trading.

“BSE recorded the highest turnover in the Currency Derivatives trading today,” the exchange announced in a statement.

On December 30, 2014, BSE had hit a new record of Rs 11,634.42 crore in currency derivative turnover — highest value seen in the segment by an exchange, for the day.

BSE’s currency derivative turnover today was also higher than that of MCX-SX which saw a trading value of Rs 1,336.73 crore in the segment today.

The exchange has attributed the success of its currency derivatives segment “to the new trading technology at BSE which offers a response time of 200 microseconds”.

“Additionally, the exchange has the lowest transaction fees allowing investors to trade frequently,” BSE said.

Together the three bourses — BSE, NSE, MCX-SX — accounted for a total turnover of Rs 21,728.52 crore in the segment for the day.

Of this, currency derivative value on the BSE represented 47.47 per cent, followed closely by NSE at 45.38 per cent. Data for currency derivative trade on USE was not available.

Trading in currency derivatives in India was introduced in 2008 with NSE (National Stock Exchange) being the first bourse to offer such trades.

In November, 2013, BSE had become the country’s fourth bourse to offer currency derivatives trading.

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