India’s currency derivatives market has made some headway in terms of its contribution to the various stakeholders associated with it. However, it is held in well-informed circles that it is possible to optimise the market’s performance by fine-tuning the regulatory framework, among other things. The researcher’s interaction with the respondents, namely, traders, investors and consultants has indeed convinced him that such fine-tuning is within the realm of possibility and in fact, has been overdue. The researcher concludes upon his analysis that the tenor cap of 12 months needs to be raised to optimise the performance of the market. After all, the products have been in the market for quite some time and the regulator and the regulated have been by and large happy with the way the products have settled into a comfortable rhythm at the marketplace. Respondents are emphatic in their statement that new participants should be allowed into the market. This will eventually lead to the market becoming broader and deeper with newer and newer products introduced and more and more participants entering the market to trade in the said products. Thanks to the resultant surge in transactional volumes, transaction costs can be considerably reduced thereby helping in moving the currency trading market onshore completely. Presently, the slew of restrictions and higher transactional costs lead investors to seek other markets in our neighbourhood, like Singapore and Hong Kong. For example, new cross currency pairs like USD-EUR can be introduced considering the kind of popularity the said currency pair enjoys nationally and globally as well. To keep the participants riveted to the market, other measures like extending the trading hours to 11.30 PM should be attempted, concludes the researcher. After all SEBI has permitted the commodities segment to operate until 11.30 PM. A similar extension in the case of the currency derivatives segment has been long overdue. Since SEBI is the regulator of the currency derivatives market also, one fails to understand its disinclination to extend the trading hours in the case of the currency derivatives market.