MCX-SX to provide price updates for currency futures via SMS

Mumbai, Oct 29 (UNI) MCX-SX, India's newest stock exchange, today announced that they will now provide price update on currency futures via SMS across all service providers.

MCX-SX is India's first exchange to launch this service.

The exchange spokesperson said this development is in line with the philosophy of systematic development of financial markets by sharing information, education and research. Earlier this month, the exchange also launched the first handbook on currency futures.

The price update through SMS is in the form of an auto-reply messaging service, which allows a mobile phone user to obtain price information on the currency futures being traded on MCX-SX. Users have to send SMS to a short code number (58888), and they will automatically receive the relevant rates.

''This service will benefit users of the currency futures platform and the entire currency ecosystem by way of updates at all times and all places. SMEs, corporate houses, banks and forex dealers need information about currency rates and this service will assist them in their decisions related to currency rates,'' added the spokesperson.

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