The Business Bytes
TBB BUREAU
MUMBAI, MAY 15, 2023
India’s leading stock exchange, National Stock Exchange (NSE), post receipt of approval from Securities & Exchange Board of India (SEBI), has launched the rupee denominated NYMEX WTI Crude Oil and Natural Gas futures contracts in its Commodity derivatives segment, on May 15, 2023.
Earlier, NSE had signed a data licensing agreement with CME Group allowing NSE to list, trade and settle rupee denominated NYMEX WTI Crude Oil and Natural Gas derivatives contracts on its platform. The addition of these contracts has expanded NSE’s product offering in the Energy basket as well as its overall commodity segment. The launch of these contracts will provide effective trading and hedging opportunities to the market participants, with the availability of key energy products on a single trading platform.
NSE Chief Business Development Officer Sriram Krishnan said: “It gives us immense pleasure to inform the market participants that NSE has launched the NYMEX WTI Crude Oil and Natural Gas futures contracts today. NSE has been the trusted exchange of market participants for close to three decades, due to its robust technology platform with high levels of safety and resilience for trading. With NCL providing settlement guarantee and ease of collateral fungibility across all NSE market segments, we hope that these two contracts will provide market participants with an efficient avenue to hedge their price risk and meet their trading objectives.”
