Mid-tier clients pile into rupee options

At launch last July, the market was effectively limited to the ‘big names’, which were already using options in other currencies, said a Mumbai-based official at an international investment bank. "But the knowledge has slowly percolated down, and even the mid-tier companies are using them now."

Harinder Singh, head of derivatives sales for India at Standard Chartered in Mumbai, said that over time, more companies have become comfortable with options. "Middle-market customers who have probabl