Leading bourse BSE Monday became the first stock exchange in the country to launch the commodity derivative contracts in gold and silver.
Till date, commodity contracts are available only on MCX and NCDEX, the two specialised commodity derivatives exchanges in the country.
"We have launched gold and silver derivative contracts and have applied for launching of crude oil and copper contracts with Sebi. We will subsequently launch more agri commodities," BSE managing director and chief executive officer Ashishkumar Chauhan told reporters.
He said the launch of commodity derivatives platform on BSE will help efficient price discovery, reduce timelines and make it cost effective.
"The bourse also promises a user-friendly platform with robust risk management system and wider market penetration," said Chauhan.
Speaking after the bell ringing ceremony, Sebi's whole time member, S K Mohanty, said, "We have put all rules and regulations and every exchange is equal to us and no exchange will have any distinctive or differential treatment from the regulator. Today onwards, all exchanges will be known as stock exchange and there will be no commodity exchanges."
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