Exchange Traded Currency Futures in India

I am glad to see in Business Standard about the SEBI approval for Exchange Traded Currency Futures.

1. Presently USD-INR futures are being traded and a succesful instrument on various parameters. Dr Ajay Shah has an excellent piece on Currency futures and an early advocate and pioneer in this area.
2. Prof JR Verma blogs about OTC derivatives here. I have used and admired his book DERIVATIVES AND RISK MANAGEMENT at VJIM and students liked his treatment of the subject which is clarity , precision and brevity.
3. Previously I have read and enjoyed a book about the genesis of currency futures and the role of Leo Melamood in The Vandal's Crown.
4. Currency Futures gives a great platform for both hedgers and speculators and arbitragers in India. I particularly noticed in Hyderabad many dubious outfits as they lure customers into OTC international currency broker trading platforms with horrifying results.
5. I wonder how the owners of these shops are blissfully unaware of market design fundamentals? Atleast now they can engage in a settlement guranteed and scam free Speculation in Currency market.
6. I may ask my freind Pradeep to shift from OTC forex broker to NSE CD Segment .
7. My sense is that this will greatly surpass equities trading as youth are increasingly taking to currency trading. Currency pairs are also less subject to assymetric information as they are macro underlyings.
8. Will new pairs INR-JPY,INR-EUR,INR-GBP bring Volatility ? I think USD-INR annualized Vol is low at 8.77% compared to Nifty annualized Vol at 17.7%.