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of <h1>SEBI Approves USD-INR Options in Currency Derivatives Segment, Details on Trading, Settlement, and Risk Management Framework.</h1> The circular from SEBI, dated July 30, 2010, permits the introduction of options on the USD-INR spot rate in the currency derivatives segment of recognized stock exchanges, subject to SEBI approval. It outlines the product design and risk management framework, including trading hours, contract size, settlement mechanisms, and margin requirements. Position limits for clients, trading members, and banks are specified, with no separate limits for clearing members. The circular aims to protect investor interests and promote securities market development, effective immediately. Detailed product specifications and risk scenarios are provided in annexures.
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