Exchange Traded Currency Derivatives

Currency Futures and Options are standardized foreign exchange contracts which are transacted on a stock exchange. IDFC FIRST Bank is a trading and clearing member with both BSE and NSE. We are pleased to offer our Exchange Traded Currency Derivative product, for which you don’t need to open a DEMAT Account, all you need to do is Open a Savings/Current Account with us.

Regulatory Details:
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

Features:
Transaction Platforms

1. Online – Web / Mobile App / Trader Work Station
2. Offline – Call & Trade Desk

Currency Pairs – USD/INR, EUR/USD, EUR/INR, GBP/USD, GBP/INR, USD/JPY, JPY/INR

Minimum Transaction Quantity – 1 Lot (1 Lot = $1000 for all currencies except JPY 1 Lot = 100,000)

Contract Maturity

1. Futures – Monthly Contracts upto 12 months (Monthly expiry is 2 working days prior to last working day)
2. Options – 4 Weekly expiry contracts, 3 Monthly expiry contracts and 3 Quarterly Expiring Contracts
3. Option Style – European Call and Put Options

Mode of Settlement – Daily MTM settlement

Exposure – Single limit of USD 100 million equivalent across all currency pairs involving INR, put together, and combined across all exchanges [Refer RBI/2017-18/134 A. P. (DIR Series) Circular No. 18 dated February 26, 2018]

Subscribe to this platform and enjoy:

1. Minimum TAT to begin trading
2. Best in Market brokerages
3. Zero cost to begin trading
4. Simple KYC procedure
5. 100% transparent pricing
6. Best-in-market Savings/FD Rates on initial margin
7. No requirement of underlying exposure for Individuals/Corporates upto USD 100 mio equivalent

Additional Benefits:

1. Dedicated desk to execute trades for Currency derivatives
2. Online Reports on Web and Mobile
3. Instant and no charge limit set-up and withdrawal with Zero penalty on FD pre-closure
4. List of securities acceptable as Collateral – Cash Lien (from Savings/Current), Fixed Deposits, Mutual Funds, Bank Guarantees.
5. Access to daily morning currency report via SMS
6. Flexible Brokerages schemes for market participants (Traders/Hedgers/Arbitrageurs)
7. Available infrastructure for execution of Derivative Strategies as per client request viz. Call Spreads, Seagull, Straddles, Strangles, Butterfly etc.)

Downloads from Form Centre (Click Here )

Forms

1. Currency Derivatives Account Opening Form – Individual
2. Currency Derivatives Account Opening Form – Non Individuals
3. Form – I(A) Request for Placement of Cash Lien
4. Form – I(B) Request for Release of Cash Lien
5. Form – II(A) Request for Placement of FD Lien
6. Form – II(B) Request for Release of FD Lien
7. Form – III Client Change Request
8. Form – IV Request for Re-Activation
9. Form – V (A) Request for Placement of Securities
10. Form – V (B) Request for withdrawal of Securities
11. Registration Documents Vernacular Language
    1. NSE – Click Here
    2. BSE – Click Here

Policies

Inactive Account Policy – Click Here

Contact Information
For product & account opening related queries, you can reach us at:
ETCD Desk – (+91 22) 7132 5682/3
e-mail – etcd@idfcbank.com
Back Office Tel no: (+91 22) 7132 5859/5851
e-mail: etcd-ops@idfcfirstbank.com
Compliance Officer – Mr. Shatrughan Prasad (+91 22) 71326451 & e-mail – etcd@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

Grievance Handling
For any grievance/dispute, please contact IDFC FIRST Bank Limited at etcd-grievance@idfcfirstbank.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

Filing complaints on SCORES - Easy & quick

1. Register on SCORES portal
2. Mandatory details for filing complaints on SCORES:
   1. Name, PAN, Address, Mobile Number, Email ID
3. Benefits
   1. Effective communication
   2. Speedy redressal of the grievances

 

For FAQs please Click Here