BSE receives SEBI’s approval to launch 1MT copper contracts
Mumbai, October 26, 2018: BSE, Asia’s oldest exchange and now the world’s fastest exchange with the speed of 6 microseconds, achieves another milestone by receiving markets regulator Sebi’s approval to launch copper contracts with trading unit of 1MT on its newly launched commodity derivatives segment.
Trading of these contracts will be launched on 2nd November 2018. Contract start day will be the 1st day of contract launch month and the final trading day will be the last day of contract expiry month. The commodity trading session will be from Monday to Friday from 10.00am to 11.30/11:55pm. Delivery center of Copper contract will be the exchange designated warehouse at Bhiwandi.
Commenting on the launch of copper contracts, Shri Ashishkumar Chauhan, BSE MD & CEO said, “BSE envisions becoming the most compliant exchange and emerging as a price setter in the commodities space. The bourse is looking at offering cost-efficient, convenient and most disciplined framework that will help bring more market participants on board.”
BSE provides investor with an end to end, integrated transaction processing, with services ranging across the spectrum- from pre-trade order management to trading, real time risk management to post trade clearing, and settlement through a central counter party mechanism along with a nationwide depository for facilitating the securities, transaction in a dematerialized form. BSE along with clearing corporation ICCL and depository CDSL, are the financial market infrastructure institutions in capital market.
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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