Recognised stock exchanges can now offer cross-currency futures and offer contracts in the EUR-USD, GBP-USD and USD-JPY currency pairs and currency option contracts in EUR-INR, GBP-INR and JPYINR currency pairs. To ensure orderly trading and market integrity, stock exchanges shall now implement a Dynamic Price Bands mechanism in the currency derivatives segment and would allow trading in crosscurrency derivatives contracts between 09:00 a.m. and 07:30 p.m. Circular No. SEBI/HO/MRD/DP/CIR/P/2016/38, dated 9-3-2016 has been issued by SEBI in this regard.