BSE’s commodities segment hits fresh all-time peak of INR 578 Cr on 23rd Oct 2018
Mumbai, October 24, 2018: BSE’s newly-introduced commodities derivatives trading platform with futures trading in gold and silver contracts hits fresh all-time peak with the traded value logging INR 578 Cr on Tuesday, 23rd October 2018. The gold contracts recorded a traded volume of 1623 lots with a value of INR 521.4931 Cr and the silver contracts clocked a traded volume of 488 lots with a value of INR 57.18887 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 has become the second largest commodities exchange in the Indian domestic area. Lately, the bourse had received market regulator Sebi’s approval to launch Oman Crude Oil contract on the exchange. Several members of BSE have also initiated algorithm trading in this segment with a few of them already having received the approval and started their trading.
The leading bourse has plans to introduce base metal contracts and agri commodities in the near future for which it has collaborated with several associations. BSE has entered into a licensing agreement with the London Metal Exchange, a premier base metals-focused commodities exchange. It has also associated with Bombay Metal Exchange for base metal contracts and with the Rajkot Commodity Exchange, Federation of Indian Spice Stakeholders, Soybean Processors Association of India and Cotton Association of India to launch agri commodities. Further, BSE envisages launching many commodities out of the 90+ commodities approved by Sebi.
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.
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