BSE gets preliminary nod for currency derivatives

MUMBAI, Aug 28 (Reuters) - The Bombay Stock Exchange Ltd said on Thursday it has received in-principle approval from the markets regulator for an exchange traded currency derivatives segment.

The exchange said it would soon announce a date for the launch of currency futures.

It was also exploring strategic arrangements with certain established entities in the forex market, which would give it reach and domain expertise, the BSE said.

Earlier this week, a unit of Multi Commodity Exchange of India had received preliminary approval for the launch of currency futures trading.

The launch of currency derivatives in India follows the recommendations made jointly by the Securities and Exchange Board of India and the Reserve Bank of India in May this year. (Reporting by Janaki Krishnan; Editing by Prem Udayabhanu)