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Equity derivates vs currency derivatives Instrument Funds available Contract size Price Contract value Margin on contract Margin value No. of contracts on full margin Position value in lakhs Nifty 100000 50 4900 245000 11% 26950 3 7.35 ITC 100000 1000 233 233000 14% 32620 3 6.99 PFC 100000 2000 150 300000 19% 57000 2 3.00 USD INR 100000 1000 62.75 62750 9% 5333.75 19 11.76 EUR INR 100000 1000 83.68 83680 4.5% 3765.6 27 22.22 • In Eq dv, Rs 1 Lakh can allow 3 Lots of nifty and total position value will be Rs 7.35 Lakhs (assuming nifty price at 4900 and 11% margin). • In FX, Rs 1 Lakh can allow 19 lots of USD-INR and total position value will be Rs 11.76 Lakhs (assuming USD-INR pair at Rs 62 with 8.5% margin). • <strong>Currency</strong> derivatives consumes lower margin & provides 3 times higher exposure than equity derivatives.
Daily currency report, provided by <strong>ICICI</strong> Securities research
Page 1 and 2: Welcome to the world of currencies
Page 3 and 4: World currencies • Different coun
Page 5 and 6: Currency exchange rates • Each cu
Page 7 and 8: Understanding appreciation & deprec
Page 9 and 10: Economic forces affecting rupee…
Page 11 and 12: How is change in currency rate a fi
Page 13 and 14: USD-INR movement impact… Do we kn
Page 15 and 16: When is currency a risk? • Curren
Page 17 and 18: How is exchange rate a financial ri
Page 19 and 20: Some more situations - • Anjali J
Page 21 and 22: Problem - currency exposure risk so
Page 23 and 24: We need to manage our fx exposure P
Page 25 and 26: What is hedging - overview & concep
Page 27 and 28: Cost of hedging & management of hed
Page 29 and 30: What are currency derivatives? •
Page 31 and 32: Currency trading @ ICICIdirect.com
Page 33 and 34: Margin calculation in currency futu
Page 35 and 36: Equity derivates vs currency deriva
Page 37 and 38: Equity derivates vs currency deriva
Page 39: Equity derivates Vs currency deriva
Page 43 and 44: Disclaimer ICICI Securities Ltd.( I

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