Mumbai: Retail foreign exchange trading firm Alpari India, a subsidiary of UK-based Alpari Group, on Thursday launched exchange-traded currency derivatives for the local markets.
The firm will offer both online and offline trading in currency derivatives through all the recognized exchanges -- NSE, MCX-SX and USE, the CEO of the company Pramit Brahmbhatt said at a press conference. India has allowed derivatives trading in currency pairs of Dollar/Rupee, Pound/Rupee, Euro/Rupee and Japanese/Rupee.
Globally, the daily turnover in foreign exchange market is more than $4 trillion and India has a market share of 1.4% of the trade, making it the 16th largest currency player in the world. Retail participation in the currency markets is about 13% of the total derivatives trading volume.