MCX Stock Exchange (MCX–SX) started Currency Futures on Monday in Mumbai. It is launched by the chairman of the Security and Exchange Board of India, C B Bhave in a function held in Mumbai. 

SEBI chairman, CB Bhave said that the market players, operators and investors should contribute to increase the volume of currency trading in the country. The function is attended by many leaders of from banks, corporate, and from other financial institutions.

The live trading platform would start from, October 7 at 9 am. It would, initially be carried out on the basis of USD-INR currency with a validity of 12 months. The contract would be settled in Indian rupees for each contract of $1,000 as per the settlement guidelines of Reserve Bank of India.

Meanwhile, MCX-SX has made 870 plus in a very short time of two weeks. Its members include 22 banks from private sector, public sector and foreign banks and some private parties. 

The following persons are included in the board of directors of MCX-SX -- Mr P G Kakodkar, Chairman (former Chairman, SBI), Mr Jignesh Shah, Vice Chairman, Mr Vepa Kamesan, Director (Former Deputy Governor, RBI), Mr S S Thakur, Director (Former Controller of Foreign Exchange, RBI), Mr B D Sumitra, Director (Former Managing Director, CCIL), Mr C M Maniar, Director (Senior Partner, Crawford Bayley & Co), Mr V Hariharan, Director and Mr Joseph Massey, Director.