Last Update: 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 agreement will allow the National Stock Exchange (NSE) to list, trade and settle NYMEX WTI crude oil and natural gas derivative contracts for Indian market participants, the exchange said in a statement.
The addition of contracts will expand NSE’s product offering and its overall commodities segment.
NSE has applied for Securities and Exchange Board India (SEBI) is seeking approval to launch additional futures contracts.
“Upon receiving approval from SEBI, NSE will make available trading in futures of these two global benchmarks, which will be settled in INR, on the NSE platform.
“Nymex WTI Crude Oil and Natural Gas (Henry Hub) contracts are among the world’s most traded commodity derivatives contracts, generating interest from around the world,” said Sriram Krishnan, Head Business Development Officer, NSE said.
He added that this would help the exchange to broaden its energy basket and these contracts would be beneficial for Indian market participants for their price risk management activities as well as for meeting trading objectives.
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(This story has not been edited by News18 staff and is published from a syndicated news agency feed)