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United Stock Exchange launched
21 September 2010: New bourse for currency derivatives, the United Stock Exchange of India (USE), began operations on 20 September 2010 and witnessed good volumes in the first hour of trade.
After the NSE and MCX, the USE is the third bourse offering currency trading in the country. The exchange commenced operations in the all four currency pairs allowed by SEBI — dollar-rupee, euro-rupee, yen-rupee and pound-rupee.
The RBI and SEBI came out strongly in support of having a diversified ownership in exchanges for ensuring good governance of the “systemically important institutions.”
USE is a unique public-private partnership with 21 public sector banks, five top private banks, the BSE, trading companies like the state-owned trading entity MMTC, Jaypee Capital, gold importer Riddhi Siddhi and a leading garment exporter as stakeholders.
Source: Hindu