BSE Commodities gains momentum with 10% market share in Gold in the first week of trading operations
Mumbai October 11, 2018: On October 10, 2018, BSE Gold Contract witnessed a turnover of ?191.41 Crore which is 10% of the gold contract traded in competitive exchanges. BSE has become the 2nd largest exchange for gold and silver contracts in India.
BSE on October 1, 2018 commenced trading in gold and silver contracts to mark its entry into the commodity derivatives segment and become India’s first universal stock exchange with all assets classes including equity, mutual funds, currency and commodity in its portfolio.
BSE Commodity Segment has experienced an impressive growth since its introduction. The upward trend of the turnover and market share explains the progress. The turnover increased to Rs.227.35 Crore on October 9, 2018 from Rs. 44.02 Crores on its first day of operations.
The transaction charges have been waived off for the period of one year for BSE commodities segment. Algo trades has also started providing two-way quotes on BSE commodities now. Two ways spread between bids ask has now become better than any other commodity exchanges in India. More and more brokers are also joining the commodity segment of BSE. More than 450 trading members have already shown willingness to participate in BSE commodities segment.
Yatin Padia/Rahul Vyas
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