The National Commodity and Derivatives Exchange (NCDEX) is planning to launch futures trading in thermal coal by September 10, the exchange’s Chief Business Officer Unopam Kausik said on Saturday.
Initially, the exchange plans to introduce a contract lot size of 100 tonnes and the trading centre will be in Nagpur, Maharashtra, he said.
Delivery will be made in Surat, in Gujarat, and a couple of more locations in the western region, he said.
The exchange is mainly targeting boiler-makers as primary beneficiaries of futures trading in thermal coal, Kausik said.
Kausik said volume of newly launched coriander contract on NCDEX is expected to pick up by harvest season in February-March. The contract that was launched early this month is currently having trade volumes of Rs 1 crore to Rs 2 crore a day, he said.
NCDEX officials are also in talks with shareholders to improve participation in carbon credit contracts, he said.
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NCDEX Managing Director and Chief Executive Officer R Ramaseshan earlier told reporters that the exchange is not planning to introduce futures trading in 8 gm gold coin contracts immediately.
“We have put plans for 8-gm gold coin contracts on hold for the moment due to logistical problems linked with delivery,” he said.
The exchange may consider it after working out the distribution logistics, he added. NCDEX is currently having gold trading contracts in lot sizes of 100 gm and 1 kg, he said.