The Kotak Group anchored Ace Derivatives and Commodity Exchange announced the final settlement prices for the first set of five future commodity contracts. The settlement price for castorseed was announced at Rs 3,979.50 a quintal while that of chana was reported at Rs 2,471 a quintal, mustardseed at Rs 265.40 per 20 kg, refined soyoil Rs 572.5 per 10 kg and soybean at Rs 2,192.50 a quintal.
The castorseed futures contract expired on December 15 while the contract for the other commodities - chana, mustard seed, refined soyoil and soybean expired on December 20.
The exchange saw widespread participation across all categories of market participants and managed to generate good open interest for their first set of contracts. The highest open interest recorded for refined soyoil was 14,320 tonnes, soybean at 7,000 tonnes, mustardseed 6,730 tonnes, chana 2,500 tonnes and castor at 1,500 tonnes.
“The expiry of the first set of contracts went smoothly. These contracts were the first ones to be launched by Ace after it commenced operations as a national level multi-commodity exchange. The exchange hopes to add more value for its members by launching more contracts as well as through its neutral and transparent price discovery platform,” said Commenting on the settlement, Dilip Bhatia, CEO, Ace Derivatives and Commodity Exchange said.
