Rajkot Commodity Exchange, which focuses on trading in castor seed futures, has applied for four different commodity contracts to expand its product portfolio, Bharatbhai Vasa, vice-president of the bourse, said on Monday.
“We have applied to the Forward Markets Commission (FMC) for new contracts in palmolein, soybean, kapas and kapas khol. Our applications are being processed, and we are hopeful that the regulator will approve them soon,” Vasa said on the sidelines of a futures trading awareness event here.
“The FMC has given a positive response, and the exchange is likely to get regulators’ nod for these contracts within six months,” he said.
FMC Chairman B C Khatua was the chief guest at the event, jointly organised by the Rajkot Commodity Exchange and MCX.
“We don’t want to keep our exchange limited to a single commodity. Moreover, the idea behind including palmolein and soybean is to provide a parallel platform for price discovery to our castor seed contracts,” he said. Expansion of the portfolio will also help the exchange improve its turnover, he said.