Mumbai: The United Stock Exchange of India Ltd, which is promoted by 16 banks, on Tuesday said it has appointed T.S. Narayanaswami as managing director and chief executive officer. Narayanaswami earlier this year retired as chairman and managing director of Indian Bank.
In a telephone conversation with Mint, he said that United Stock Exchange has got an in-principle approval from the capital markets regulator to start currency futures trading, and that he expects this to start in a month’s time.
United Stock Exchange will be the fourth in India to offer currency futures trading after the National Stock Exchange of India, Bombay Stock Exchange and the Multi Commodity Exchange of India Ltd’s stock exchange. Narayanaswami also said that United Stock Exchange intended to introduce interest rate futures by the end of the year.