New Delhi, Jan 10 : The National Stock Exchange hasapplied before authorities for registration of trademark forits 'Currency Derivatives' label.
The exchange has approached the Trade Marks Registry forthe registration of trademarks for 'Currency Derivatives'label under different classes, as per details available withoffice of the Controller General of Patents, Designs & TradeMarks.
NSE's currency derivatives label features signs of threecurrencies -- US dollar, euro and Japanese yen. As perdetails, NSE made its application on September 1, 2009.
Trademarks are distinctive signs, used to differentiatebetween identical or similar goods and services offered bydifferent producers or services providers. Trademarks are atype of industrial property, protected by intellectualproperty rights.
Currency derivatives is a contract between the seller andthe buyer, whose value is to be derived from the underlyingasset, the currency amount.
NSE is the first stock exchange in India to launchtrading in currency futures. Trading in currency futurescontract started in August 2008 on the NSE.
Financial Technologies-promoted Multi Commodities Exchange is the main rival of NSE in currency derivatives.
There has been a consistent month-on-month increase in thenumber of contracts traded in currency futures segment at NSE. Average daily volume for the month ended December 2009, was atUSD 1,952.59 million, as per the NSE data.
NSE has applied for registration of currency derivativeslabels in different classes including class 9 and 28.
Class 9 of trademarks rules deals with computer, electricand electronic equipment for data transmission, receiving andmanipulation, electronic accounting and banking equipment andothers. Class 28 is about games and playthings, gymnastic andsporting articles among others.
No comments:
Post a Comment