BSE’s commodities segment records all-time high daily turnover; clocks INR 196 Cr on 8th Oct 2018
Mumbai, October 9, 2018: BSE’s newly-introduced commodities derivatives trading platform with futures trading in gold and silver contracts witnessed an upswing with the traded value touching a high of INR 196 Cr on Monday, 8th October 2018 (till 6 pm). While the gold contracts clocked a traded volume of 519 lots with a value of INR 162.88 Cr, the silver contracts recorded a traded volume of 289 lots with a value of INR 33.65 Cr. BSE has become the second largest commodities exchange in the Indian domestic area.
The leading exchange began trading in commodity derivatives on October 1, 2018, after gaining SEBI's approval to launch a delivery-based futures contract in gold (1 kg) and silver (30 kg). BSE’s announcement to waive transaction charges has attracted a lot of participants, including all types of brokers and traders, who are cost sensitive due to their nature of business. Out of the 442 expressions of interest received from members, BSE has registered 145 trading members and 27 clearing members in the commodity derivatives segment. Many more members are expected to join the bourse in the near future.
Many members of BSE have also initiated algorithm trading in this segment with a few members already having received the approval and started their trading. The leading bourse has plans to introduce base metal contracts and agri commodities in the near future for which it has collaborated with several associations. BSE has entered into a licensing agreement with the London Metal Exchange, a premier base metals-focused commodities exchange. It has also associated with Bombay Metal Exchange for base metal contracts and with the Rajkot Commodity Exchange, Federation of Indian Spice Stakeholders, Soybean Processors Association of India and Cotton Association of India to launch agri commodities.
Besides, BSE has also applied for copper and crude oil contracts to SEBI. Once those contracts are approved, the exchange will introduce them on an immediate basis. Further, BSE envisages launching many commodities out of the 90+ commodities approved by SE.
BSE (formerly Bombay Stock Exchange) established in 1875, is Asia’s first & now the world’s fastest Stock Exchange with a speed of 6 microseconds. BSE is India’s leading exchange group and has played a prominent role in developing the Indian capital market. BSE is a corporatized and demutualised entity, with a broad shareholder base that includes the leading global exchange- Deutsche Bourse, as a strategic partner. BSE provides an efficient and transparent market for trading in equity, debt instruments, equity derivatives, currency derivatives, interest rate derivatives, mutual funds and stock lending and borrowing.
BSE also has a dedicated platform for trading in equities of small and medium enterprises (SMEs) that has been highly successful. BSE also has a dedicated MF distribution platform BSE StAR MF which is India Largest Mutual Funds Distribution Infrastructure. On October 1, 2018, BSE launched commodity derivatives trading in delivery-based futures contract in gold (1 kg) and silver (30 kg).
BSE provides a host of other services to capital market participants including risk management, clearing, settlement, market data services and education. It has a global reach with customers around the world and a nation-wide presence. BSE’s systems and processes are designed to safeguard market integrity, drive the growth of the Indian capital market and stimulate innovation and competition across all market segments.
Indian Clearing Corporation Limited, a wholly owned subsidiary of BSE, acts as the central counterparty to all trades executed on the BSE trading platform and provides full novation, guaranteeing the settlement of all bonafide trades executed. BSE Institute Ltd, another fully owned subsidiary of BSE runs one of the most respected capital market educational institutes in the country. Central Depository Services Ltd. (CDSL), associate company of BSE, is one of the two Depositories in India.
Yatin Padia / Rahul Vyas / Mihir Dani
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