BSE’s market share in guar seed trading soars to 36% on Day 4 of trading; records highest turnover of INR 73 cr on February 12, 2019
March futures contract gains open interest of 2450 MT
Mumbai, 13 February 2019: BSE, Asia’s oldest exchange and now world’s fastest exchange with the speed of 6 microseconds, hit a record high of INR 73 crore in Guar seed futures contract with a market share of 36 per cent as on February 12, 2019. The total turnover of Guar seed March futures contract in the three trading sessions since launch is INR 192 crore with Open Interest of 2450 MT.
Market regulator Sebi, last month, allowed the exchange to launch futures trading in Guar seed and Guar gum futures contracts. Following this, the exchange launched trading in the two-agriculture commodities Guar seed and Guar gum on February 7, 2019.
Commenting on the record turnover, Shri Ashishkumar Chauhan, MD & CEO, BSE said, “We are happy and thankful to have received a very welcoming and warm response from agri commodities community in the first week, as Guar contracts are our first set of contracts launched in agri commodities. We hope to launch many more contracts in the near future, including Cotton contracts next week for which we have already received Sebi approval. We hope to build on this success in the entire gamut of commodities, agri and non agri commodities in 2019.”
Trading in Guar seed futures contract is witnessing higher turnover and market share in its first week of launch itself. BSE is taking special initiatives to promote trading interest in agriculture commodities. The advanced technology and lowest transaction cost are enabling the volumes to surge, which in turn will facilitate BSE to emerge as market leader in the commodities segment.
BSE (formerly Bombay Stock Exchange) established in 1875, is Asia’s first & now the world’s fastest Stock Exchange with a speed of 6 microseconds. BSE is India’s leading exchange group and has played a prominent role in developing the Indian capital market. BSE is a corporatized and demutualised entity, with a broad shareholder base that includes the leading global exchange- Deutsche Bourse, as a strategic partner. BSE provides an efficient and transparent market for trading in equity, debt instruments, equity derivatives, currency derivatives, interest rate derivatives, mutual funds and stock lending and borrowing.
BSE also has a dedicated platform for trading in equities of small and medium enterprises (SMEs) that has been highly successful. BSE also has a dedicated MF distribution platform BSE StAR MF which is India Largest Mutual Funds Distribution Infrastructure. On October 1, 2018, BSE launched commodity derivatives trading in delivery-based futures contract in gold (1 kg) and silver (30 kg).
BSE provides a host of other services to capital market participants including risk management, clearing, settlement, market data services and education. It has a global reach with customers around the world and a nation-wide presence. BSE’s systems and processes are designed to safeguard market integrity, drive the growth of the Indian capital market and stimulate innovation and competition across all market segments.
Indian Clearing Corporation Limited, a wholly owned subsidiary of BSE, acts as the central counterparty to all trades executed on the BSE trading platform and provides full novation, guaranteeing the settlement of all bonafide trades executed. BSE Institute Ltd, another fully owned subsidiary of BSE runs one of the most respected capital market educational institutes in the country. Central Depository Services Ltd. (CDSL), associate company of BSE, is one of the two Depositories in India.
Yatin Padia / Rahul Vyas / Mihir Dani/ Shruti Nitesh
022 2272 8516 / 2272 8472 / 7738012080/ 8108000974