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USE Plans Entry In IRF Segment

The United Stock Exchange is aiming to enter the interest rate futures trading segment.

The United Stock Exchange (USE) is aiming to enter the interest rate futures (IRFs) trading segment, Business Standard reports. The Indian bourse is planning to apply to the Securities and Exchange Board of India for approval.

The exchange currently deals in currency trading and competes with the National Stock Exchange and the MCX Stock Exchange. USE shareholders include the Bombay Stock Exchange, Axis Bank, HDFC Bank, ICICI Bank, Standard Chartered and Jaypee Capital.

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