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Metropolitan Stock Exchange (MSE) Thursday said it has received market regulator Sebi's approval to launch weekly options on US dollar-Indian rupee (USD-INR) and other new currency products. The move will enable market participants to reduce their cost of hedging significantly. These new products will be available on the MSE platform from the first week of December, the exchange said in a statement. Besides, MSE has been allowed by Sebi to introduce monthly options contracts on currency pairs of EUR-INR, GBP-INR and JPY-INR. Further, the exchange has been permitted to launch futures and options (F&O) on cross currency pairs of EUR-USD, GBP-USD and USD-JPY. These F&O on cross currency pairs would be available for trading from 9000 hours am to 1930 hours on trading days. The approval for new products comes at the most opportune time when the Indian market requires new hedging products in currency in the wake of high volatility in the currency markets. With the new products in ...

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