What are the eligibility criteria for setting up of currency futures segment in a recognized stock exchange?
A. A recognized stock exchange having nationwide terminals or a new exchange recognized by SEBI may set up currency futures segment after obtaining SEBIs approval. The currency futures segment should fulfill the following eligibility conditions for approval: The trading should take place through an online screen-based trading system, which also has a disaster recovery site. i. The clearing of the currency derivatives market should be done by an independent Clearing Corporation, which satisfies the eligibility for a clearing corporation. ii. The exchange must have an online surveillance capability which monitors positions, prices and volumes in real time so as to deter market manipulation. iii. The exchange shall have a balance sheet networth of atleast Rs. 100 crores. iv. Information about trades, quantities, and quotes should be disseminated by the exchange in real time to at least two information vending networks which are accessible to investors in the country. v. The per-half-hour
