Mauritius, Monday, 25th March 2013 ‐ Global Board of Trade, the first international multi‐asset bourse
from Mauritius has announced the successful launch of the GBOT USD/MUR weekly delivery based
contract on Friday, 22nd March 2013.
TheGBOTUSD/MUR weekly contract offers a convenienttrading unit of assmall as 1000US Dollars with
weekly delivery. This small sized and flexible USD/MUR contract on GBOT will equip banks, exporters,
importers and even individuals to manage currency risk and take delivery of US Dollars and Mauritian
Rupees at competitive rates.
Mr. Rinsy Ansalam, MD & CEOofGBOT,said: “With the launch ofthe weeklyUSD/MUR contract we will
come closer to the currency risk management and transaction requirements of foreign investors, local
exporters, importers, individuals and organizations having exposure in US Dollars against Mauritian
Rupees. We expect this contract to bring down the cost of servicing smaller clients for banks when it
comesto USD/MUR conversions as banks will have only GBOT asits counterpart for effecting payments
and receipts.”
The specifications of delivery based weeklyUSD/MUR are asfollows:
Contractsize: 1000USD
TradingHours: 1030hrsto 2030 hrs, Monday to Friday (Mauritiustime)
Delivery and settlementlogic: Compulsory delivery
Sharing his perspective on the product, Mr. A.J. Smiles, Deputy Chief Executive of BankOne said, “As a
GBOT broker, we look forward to benefit from this product by trading ourselves and also enabling our
clients to trade on this customized USD/MUR contract introduced by GBOT. We congratulate GBOT on
thisinitiative that will allow banksto eliminate overnight open position risk efficiently.”
“The new USD/MUR contract being introduced by GBOT exchange is one of the finest hedging products
that will enable Mauritian corporate entitiesto not only save money on spreads but also reduce business
tax liability, thereby enhancing profits. It will help small, individual investors to unlock savings and
channelize them into short‐term, better yielding investments.” said Mr. Rajesh Desai, Director of APAC
Services. He further added that, “As a broker on GBOT, we appreciate the innovation brought by the
exchange to create yet another opportunity forits brokers”
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