Politics

Supporters holding flags of ruling Congress party leave after attending an election campaign rally by Rahul Gandhi at Hardoi district in Uttar Pradesh January 28, 2012. REUTERS/Adnan Abidi/Files

Weakened Congress wondering if early elections will help

The Congress party is debating holding a general election in November, six months ahead of schedule, senior party leaders said, reflecting an internal discussion over whether to pull the plug on the shaky ruling coalition or have it serve a full term.  Full Article 

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MCX-SX wins approval to launch currency options

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1 of 2. A trader looks at a screen at a stock brokerage firm in Mumbai March 7, 2008.

Credit: Reuters/Arko Datta/Files

Sun Aug 5, 2012 8:42pm IST

REUTERS - The MCX Stock Exchange (MCX-SX) has received approval from the Securities and Exchange Board of India and the Reserve Bank of India to launch currency options on its platform, the exchange said on Sunday.

The approvals will allow the exchange to expand its currency derivatives business by introducing options in the dollar-rupee currency pair, MCX-SX said in a statement, adding that it will soon announce the launch date for live trading.

Last month MCX-SX, which began trading in 2008 with currency futures, said it had won approval from regulators to start trading equities, equity futures, interest rate futures and wholesale debt products. (Read story here)

MCX-SX is controlled by the Multi-Commodity Exchange of India (MCEI.BO), India's biggest commodity bourse, which raised $135 million in an initial public offering in the local market earlier this year.

(Reporting by Sumeet Chatterjee in Mumbai; Editing by Daniel Magnowski)
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