The United Stock Exchange of India began operations on Monday, with the all-exclusive currency exchange getting to a great start with the Day 1 turnover faring better than market peers, the NSE and MCX.
As currency markets turn more and more volatile, exporters and importers have found themselves turning to currency futures to hedge their foreign exchange risk.
Over the past two years, the NSE and the MCX have seen volumes in currency futures surge, justifying the need for an all-exclusive currency futures exchange. The United Stock Exchange claims that based on Monday's trade, it commands a market share of 52 per cent.
A key challenge for the entire currency derivates markets however remains bringing the retail investor into its fold, whose comfort with hedging remains fairly muted even now.
Source: NDTV
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