Last Updated: February 15, 2023, 14:42 IST
Leading stock exchange NSE on Wednesday said it has entered into a data licensing agreement with derivatives marketplace CME Group for WTI crude oil and natural gas contracts.
The pact will allow National Stock Exchange (NSE) to list, trade and settle rupee denominated Nymex WTI crude oil and natural gas derivatives contracts for Indian market participants, the bourse said in a statement.
The addition of the contracts will expand the NSE product offering and its overall commodity segment.
NSE has applied to the Securities and Exchange Board of India (SEBI) seeking approval to launch the additional futures contracts.
“On receiving approval from Sebi, NSE would make available trading in futures of these two global benchmarks, which will be settled in INR, on the NSE platform.
“The Nymex WTI Crude Oil and Natural Gas (Henry Hub) contracts are amongst the world’s most traded commodity derivatives contracts generating interest from across the globe,” Sriram Krishnan, Chief Business Development Officer, NSE said.
This would help the exchange broaden its energy basket and these contracts will be beneficial for the Indian market participants to meet their price risk management activities as well as trading objectives, he added.
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(This story has not been edited by News18 staff and is published from a syndicated news agency feed)