BSE ties up with Steel Users Federation of India for steel futures

Stock exchange BSE on Thursday said it has signed a pact with the Steel Users Federation of India (SUFI) to work towards enlisting steel futures and help in stronger and transparent steel trade.

"BSE and SUFI will work towards enlisting steel futures in both long and flat segments. This will bring in stability, avert risks and facilitate a level-playing field to one and all players," the bourse said in a release.

"The tie-up is a key step for moving forward, opening new avenues and opportunities for the growth of steel markets in India," BSE MD and CEO Ashishkumar Chouhan said.

Commenting on the pact, Nikunj Turakhia, President, SUFI said: "This move brings equal chances for everyone to invest in steel futures. This much-needed public participation will enable the sector to offer increased employment opportunities as well.