BSE commences trading in futures contracts on Oman Crude Oil in commodity derivatives
Futures trading in gold and silver contracts records fresh all-time peak of INR 621.47 Cr on Thursday, 25th October 2018
Mumbai, October 26, 2018: BSE, Asia’s oldest exchange and now the world’s fastest exchange with the speed of 6 microseconds, today commenced trading in futures contracts on Oman Crude Oil in its newly launched commodity derivatives segment.
The BSE Oman Crude Oil Futures Contract will be settled on Dubai Mercantile Exchange Oman Crude Oil prices on the expiry day. BSE recently entered into an agreement with Dubai Mercantile Exchange (DMX) a premier energy-focused commodities exchange in the Middle East, for the growth and systematic development of commodity derivatives markets in the Crude Oil Complex.
BSE’s newly-introduced commodities derivatives trading platform with futures trading in gold and silver contracts also hit fresh all-time peak with the traded value logging INR 621.47 Cr on Thursday, 25th October 2018. The gold contracts recorded a traded volume of 1715 lots with a value of INR 548.09 Cr and the silver contracts clocked a traded volume of 629 lots with a value of INR 73.38 Cr.
The leading exchange began trading in commodity derivatives on October 1, 2018, after gaining SEBI's approval to launch a delivery-based futures contract in gold (1 kg) and silver (30 kg). BSE’s announcement to waive transaction charges has attracted a lot of participants, including all types of brokers and traders, who are cost sensitive due to their nature of business. Out of the 442 expressions of interest received from members, BSE has registered 170 trading members and 27 clearing members in the commodity derivatives segment. Many more members are expected to join the bourse in the near future.
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
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