chapter 4
ETC FX Concepts
LEARNING OBJECTIVES
This chapter aims to provide readers with an in-depth knowledge on ETC markets with major emphasis on currency futures which have been recently launched in India, and are traded on various exchanges, viz., NSE, MCX and USE. ETC refers to ‘exchange traded contracts’ whereby each counterparty deals with exchange. Exchange acts as an intermediary and guarantees the settlement and performance of obligations by counterparties. The contents of this chapter are organized in the following order:
1. Currency Futures: Introduction
2. Market Participants in Currency Futures Segment
3. Currency Futures: Technical Aspects
4. Concept of Margin in ETC Markets
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