MRC India launches currency trading platform on NSE

India is an increasingly popular market with Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term brokers - Alpari and XTB are one of the most active there - and it seems that local players want a cut of the action as well. Officially for now you can only trade the Rupee against the USD, GBP, EUR and JPY on the national exchange, however retail forex brokers offer all pairs. I suppose more pairs will be added to the exchange soon enough.

Indian arm of global currency brokerage firm MRC Group, MRC India today said it has launched a currency Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term on the National Stock Exchange which will focus on retail and corporate segment.

"The currency segment is at a very nascent stage and through this initiative we will take it to next stage. Through our educational programme we will involve more retail and corporate clients," MRC India Director Vivek Dave told reporters here.

In India, the firm's main focus will be to penetrate the retail and the corporate clients, which will be achieved through a series of educational workshops, he said. MRC India also launched the first edition of its educational book 'An introduction to currency markets', which will be updated in the next editions with more information. Globally, he said the currency market is popular and MRC India will strive towards making it grow in India and added that the minimum benchmark for trading is Rs 1,500.

"Globally the currency market is very volatile and transparent with a daily turnover of USD 4 trillion. In terms of trading volume, currency markets constitutes of 60 per cent followed by the commodity markets and then the equity market," he said. Talking about the expansion plans of the company, Dave said, "Initially we will be present in Maharashtra and Gujarat and slowly expand to the South, East and then to the North." MRC India plans to increase the currency futures and options contracts to 10,000 per day by March 2011 from the present 1,000 contracts a day, he said.