Skip to main content

NSE to finalise list of commodity derivatives soon

By
NSE to finalise list of commodity derivatives soon
As it awaits Sebi guidelines on universal exchanges, NSE has said it will finalise its list of commodity derivatives products to launch on its platform in next 1-2 months.
The leading bourse also said it has made the required technological changes for such trades. The National Stock Exchange (NSE), which is looking to offer trade in commodity derivatives such as energy and metals, is currently engaging brokers and other market participants for shortlisting such products with an aim to bring in a diversification in the segment.
On December 28 last year, the markets watchdog Securities and Exchange Board of India (Sebi) had announced that from October 2018, the country will have a unified exchange regime wherein stock exchanges will be allowed to offer trading in commodities derivatives. Detailed guidelines are awaited.
"Our technology platform is ready for commodity derivative trading. Whatever technological changes were required has already been made for the segment," NSE Chief of Business Development Ravi Varanasi told PTI.The exchange is in the process of shortlisting commodity derivative products, which would be fit for trading in the market, the NSE official added.
It is planning to launch trading in energy and metals."We are engaging with brokers and other market intermediaries for the purpose. The process of finalising the products should be completed in 1-2 months. We do not want to restrict ourselves from trading in any asset class or product in the segment," he added.
While noting that many brokerages are in process of consolidating their commodity and equity businesses, Varanasi said any plans to offer commercial incentives to trading members for transactions in commodity derivatives will be taken closer to the launch of the segment.NSE closest rival BSE had recently unveiled its plans for commodity derivative trading. The exchange plans to enter the segment with non-agri products such as bullion, base metals, crude and natural gas, among others.
It has also announced a free membership for the commodities segment.The Sebi's universal exchanges move is expected intensify competition among the equity bourses BSE, NSE, and commodities players like Multi-Commodity Exchange and National Commodity and Derivatives Exchange.
The Business Standard, New Delhi, 29th January 2018

Comments

Post a Comment

Popular posts from this blog

Credit card spending growth declines on RBI gaze, stress build-up

By
  Credit card spends have further slowed down to 16.6 per cent in the current financial year (FY25), following the Reserve Bank of India’s tightening of unsecured lending norms and rising delinquencies, and increased stress in the portfolio.Typically, during the festival season (September–December), credit card spends peak as several credit card-issuing banks offer discounts and cashbacks on e-commerce and other platforms. This is a reversal of trend in the past three financial years stretching to FY21 due to RBI’s restrictions.In the previous financial year (FY24), credit card spends rose by 27.8 per cent, but were low compared to FY23 which surged by 47.5 per cent. In FY22, the spending increased 54.1 per cent, according to data compiled by Macquarie Research.ICICI Bank recorded 4.4 per cent gross credit losses in its FY24 credit card portfolio as against 3.2 per cent year-on-year. SBI Cards’ credit losses in the segment stood at 7.4 per cent in FY24 and 6.2 per cent in FY23, the...
Post a Comment
Read more

SFBs should be vigilant, proactive to mitigate risks: RBI deputy guv

By
  The Reserve Bank of India’s Deputy Governor Swaminathan J on Friday instructed the directors of small finance banks (SFBs) to be vigilant and proactive in identifying emerging risks in the sector.Speaking at a conference for directors on the boards of SFBs, Swaminathan highlighted the role of governance in guiding SFBs towards sustainable growth with stability. He also emphasised the importance of sustainable business models.Additionally, he highlighted the need for strengthening cybersecurity to protect the entities against digital threats and urged for a stronger focus on financial inclusion, customer service, and grievance redressal to ensure a broader reach of banking services.Executive Directors S C Murmu, Rohit Jain, and R L K Rao, along with other senior officials representing the Supervision, Regulation, and Enforcement Departments of the RBI, also participated in the conference.   -  Business Standard  30 th  September, 2024
Post a Comment
Read more

Brigade Hotel Ventures files draft papers with Sebi for Rs 900 crore IPO

By
  Brigade Hotel Ventures Ltd, owner and developer of hotels in South India, has filed draft papers with capital markets regulator Sebi to raise Rs 900 crore through an initial public offering (IPO).The proposed IPO is entirely a fresh issue of equity shares with no Offer-for-Sale (OFS) component, according to the draft red herring prospectus (DRHP).Proceeds from the issue to the tune of Rs 481 crore will go towards payment of debt, Rs 412 crore will be allocated to the company and Rs 69 crore to its material subsidiary, SRP Prosperita Hotel Ventures Ltd.Additionally, Rs 107.52 crore will be used to purchase an undivided share of land from the Promoter, BEL, and the remaining funds will support acquisitions, other strategic initiatives, and general corporate purposes.The company may raise up to Rs 180 crore through a Pre-IPO Placement.   If the placement is undertaken, the issue size will be reduced.Brigade Hotel Ventures Ltd is a wholly-owned subsidiary of Brigade Enterprises ...
Post a Comment
Read more