Exchange Traded Currency Derivatives

  • Initial Payment Requirement

Reserve Bank of India (RBI) vide its circular no. RBI/2008-09/122 A.P. DIR series circular no. 05, dated 06th august 2008 has issued guidelines on trading of Currency Futures in recognised Stock / New Exchanges in India. Currency Futures and Options are standardised derivative contracts transacted on an organised exchange such as NSE, BSE, etc. These standardised contracts require payment of an initial deposit or margin as collateral, based on which a trading exposure is allocated to the client by the exchange. Currently, clients can place margin in the form of Fixed Deposit or Cash. Clients who fulfill the SEBI prescribed KYC norms and open a savings or current account with IDFC FIRST Bank are eligible to trade.

IDFC FIRST Bank is a Trading and Clearing Member for Currency Derivative Segment with BSE and NSE Currently four currency pairs are traded with a lot size of 1000 units of the base currency for EUR, GBP and USD, except JPY where the lot size is 100,000. These contracts are settled in rupees and not in foreign currency. The maturity of the contracts shall not exceed 12 months. The currency options are European style put and call USD contract for a lot size of 1000 that are allowed to be traded for three serial monthly contract followed by three quarterly contracts of cycle March/June/ September/December (Subject to change as prescribed by the Exchanges). As on date, these are traded only on BSE. Contracts are quoted and settled in Indian rupees and the settlement price is the Reserve Bank of India’s Reference Rate on the expiry date of the contract. Contract expires two days prior to the last working day of the month at 12 noon and Settlement takes place on the last working day of the month

The following type of products and currency pairs are currently available

  1. Currency Futures-USD/INR, EUR/INR, GBP/INR and JPY/INR.
  2. Currency Options - USD/INR

The Open position will be subject to Daily MTM based on the movement in the exchange rates. Clients are advised to maintain sufficient balance in the savings/current account to cover any loss on daily MTM settlement. In case of MTM profit, the same will be credited to the savings/current account on the next day. Final settlement obligation will be settled in the same manner as the daily obligations except that the credit obligation will be credited to your account on the 2nd working day from the expiry date.

The transactions will be subject to brokerage and statutory expenses with applicable taxes as mandated by the exchange.

Client while on-boarding has the option to choose Online or offline mode or both for trading. Online Trading is arranged through Trading Platform provided by respective Exchanges viz. standalone installers (.exe), web portal and mobile platform for placing trades. Offline Trading, where clients can ‘Call and Trade’ with IDFC FIRST Bank Dealing Room, by establishing the customer identity to the dealers.

Domestic participants shall be allowed to take either long as well as short position in USD/INR pair up to USD 15 million per exchange and for EUR/INR, GBP/INR and JPY/INR pairs, all put together, up to USD 5 million equivalent per exchange without having to establish the existence of any underlying exposure. The position limits are provided by the regulatory body and updated from time to time.

You can access registration documents in vernacular language from the below links:

NSE – Click Here
BSE – Click Here

Name of Stock Broker/Trading Member/Clearing Member: IDFC FIRST Bank Limited

SEBI Registration No.: INZ000036640 dated 28th March 2016
BSE Membership No.: 4069 dated 28th March 2016
NSE Membership No.: 90089 dated 10th August 2016

For product & account opening related queries, contact Corporate Office:
Front Office Tel No.: (+91 22) 7132 5599
e-mail: etcd@idfcbank.com
Back Office Tel no: (+91 22) 7132 5859/5858
e-mail: etcd-ops@idfcbank.com

Corporate Office Address:
Naman Chambers, C-32, G-Block
Bandra Kurla Complex,
Bandra (E), Mumbai – 400 051

Registered Office Address:
KRM Tower, 7th Floor,
No. 1, Harrington Road, Chetpet,
Chennai - 600031

Click Here to Download Inactive Accounts Policy

Compliance Officer Name and Contact Details Mr. Shatrughan Prasad (+91 22) 71326451 e-mail: etcd@idfcbank.com

For any grievance/dispute, please contact IDFC Bank Limited at
etcd-grievance@idfcbank.com
If you are not satisfied with the response, please contact the exchange(s) concerned at:

BSE
e-mail: is@bseindia.com, Tele: 022-22721234/33
BSE Investor Service Centre, 1st Floor, Cama Building, Dalal Street, Fort, Mumbai – 400 001

NSE
e-mail: nseiscmum@nse.co.in Tele: 022-25045258-60
NSE Investor Service Cell, 6th Floor, Kohinoor City, Tower -1, Commercial - II, Kirol Road, Off. L.B.S. Marg, Kurla (W), Mumbai - 400 070


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You can download the relevant forms from the Forms Centre – Click Here

HAPPY TRADING!

"Attention Investor: Prevent unauthorized transactions in your account. Update your mobile numbers/email IDs with us to receive information of your transactions directly from Stock Exchange on your mobile/email at the end of the day"

Disclaimer: Investment in Securities Market are subject to market risk, read all related documents carefully before investing.

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Contact us

REGISTERED office:

IDFC FIRST Bank Ltd

KRM Tower, 7th Floor, No. 1,
Harrington Road, Chetpet,
Chennai - 600031, Tamil Nadu,
India

Corporate office:

IDFC FIRST Bank Ltd

Naman Chambers,
C-32, G-Block,
Bandra-Kurla Complex,
Bandra East, Mumbai - 400051,
India

IDFC FIRST Bank Customers

Toll Free No - 1800 419 4332
Email - Banker@idfcfirstbank.com

Capital First Customers

Toll Free No - 1860 500 9900
Email - Customer.Care@Capitalfirst.Com

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