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Securities and Exchange Board of India (SEBI) has granted approval to National Stock Exchange of India Ltd. (NSE) and Bombay Stock Exchange (BSE) to launch their commodity derivative segments. Stock exchange major BSE will launch derivatives trading in commodities segment from October 1 whereas NSE would start the same on October 12.
NSE released a statement, saying, “NSE, India’s leading stock exchange, is pleased to inform that SEBI has granted approval for introducing futures contracts on Gold 1 kg, Gold Mini 100 grams and Silver 30 kg on NSE’s commodity derivatives segment.”
NSE also said in a statement, “We have also received suggestions that the launch of a new segment should be done after the ‘Pitru-Paksha’ in the auspicious period of Navratri.”
Both NSE and BSE had received approval for the launch of their commodity derivative segments from SEBI, earlier on 19 September. BSE also said in a statement release, “BSE has also received SEBI approval for the launch of the delivery-based futures contract in Gold (1 kg) and Silver (30 kg) from October 1, 2018.”
On BSE the commodity trading will be conducted from 10.00 am to 11.30 pm from Monday to Friday. BSE also said, “The delivery centre of gold and silver futures contracts will be exchange-designated vaults at Ahmedabad initially, and then the same will be expanded pan India in the second phase.”
