Media Release
Golden spice, turmeric makes it to BSE’s commodity derivatives segment
Sangli, June 28, 2019: BSE, Asia’s oldest exchange and now world’s fastest exchange with the speed of 6 microseconds, today commenced commodity derivatives trading in turmeric with a lot size of 10 metric tons.
The launch of turmeric futures was done in the Turmeric City of Maharashtra-Sangli. The event witnessed immense support from the turmeric traders of the city.
Shri Ashishkumar Chauhan, MD & CEO, BSE said, “Launch of trading in turmeric contracts is in line with our long-term vision to introduce various Agri/non-Agri commodities contracts on BSE platform. We strongly believe there is a lot of scope for growth in the commodities market and look forward to launching more agri commodities and providing effective risk hedging instruments using the latest technology and risk management framework to all Indian stakeholders.”
The exchange has fixed a trading and delivery of 10 MT. The basic delivery centre for the turmeric contracts is Nizamabad (up to the radius of 100 Km from the municipal limits) with additional delivery centres at Sangli, Erode, and Basmat (up to the radius of 100 Km from the municipal limits) with location wise premium/discount as announced by the Exchange.
BSE has tied up with various agricultural premier associations and warehouse service providers in India for the growth and development of commodity derivatives markets in the agricultural complex. BSE had also entered into a licensing agreement with the London Metal Exchange and associated with Bombay Metal Exchange for base metal contracts, besides tying up with the Rajkot Commodity Exchange, Federation of Indian Spice Stakeholders, Soybean Processors Association of India and Cotton Association of India to launch agri commodities.
About BSE
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.
Media Contact:
Yatin Padia / Rahul Vyas / Mihir Dani/ Shruti Nitesh
022 2272 8516 / 2272 8472 / 7738012080/ 8108000974
Yatin.padia@bseindia.com/Rahul.vyas@indiainx.com/mihir.dani@adfactorspr.com/ shruti.nitesh@adfactorspr.com