NSE, CME Group ink % for rupee-denominated WTI crude oil and herbal gas contracts by admin- Thursday, February 16th, 2023 07:26:25 AM
NSE has implemented to the marketplace regulator SEBI searching for approval to release the extra futures contracts
NSE will alternate by-product contracts of rupee-denominated crude oil and herbal gas. The trade said it has signed a statistics licensing settlement with CME Group, allowing NSE to list, exchange and settle rupee-denominated NYMEX WTI Crude Oil and Natural Gas (Henry Hub) derivatives contracts for Indian market contributors.
In a press release, the NSE said its contracts will amplify the product imparting within the general commodity section. NSE has applied to marketplace regulator SEBI searching for approval to launch the extra futures contracts.
Shri Sriram Krishnan, Chief Business Development Officer, NSE said: “On receiving approval from SEBI, NSE might make available buying and selling in futures of these two global benchmarks, if you want to be settled in INR, at the NSE platform. The NYMEX WTI Crude Oil and Natural Gas (Henry Hub) contracts are amongst the arena’s maximum traded commodity derivatives contracts producing hobby from throughout the globe. It gives us massive delight to enter into this agreement, because it will assist us to expand our power basket and we’re hopeful that those contracts can be beneficial for the Indian marketplace participants to fulfill their rate danger control activities as well as trading objectives.”