New Delhi, Sep 28 (PTI) BSE is set to launch trading in commodity derivatives from October 1 and has decided to waive off the transaction charges for the first year of commodities market operations, the exchange said Friday. Also Read - Coronavirus in India: Another COVID-19 Patient Dies in Maharashtra, Death Toll in State Rises to 21 | Highlights
The exchange will begin trading in commodity derivatives with non-agriculture commodities like metals initially, followed by agri commodities subsequently, BSE said in a statement. Also Read - India to be Under Lockdown For 21 Days, Confirmed COVID-19 Cases Spike to 536
In order to encourage more participants to join the commodity markets, BSE has decided to waive off the transaction charges for the first year of commodities market operations, it said. Also Read - COVID-19 LIVE: Next 3-4 Weeks Are Crucial, PM Modi Tells State CMs | Top Developments
“BSE firmly believes that its commodity derivatives platform will help in efficient price discovery, reduction in timelines, cost-effective, user-friendly, robust risk management system and wider market penetration,” the statement said.
Launch will be marked by way of a bell ringing ceremony on October 1, 2018, it said.
“We believe BSE’s foray into commodities derivatives from October 1, 2018, will enable many more participants to join the commodities market and enhance the linkages between underlying spot markets and commodity derivatives markets in each commodity BSE introduces in this market,” said Ashishkumar Chauhan, MD and CEO, BSE.
“We hope to make Indian markets through BSE as the price setters in commodities markets going forward using our superior technology and reach across nooks and corners of India, Chauhan added.
BSE has also received Sebi’s approval for launch of delivery based futures contract in gold (1 kg) and silver (30 kg) from October 1, 2018.
This is published unedited from the PTI feed.