Mumbai (Maharashtra) [India], May 15 : National Stock Exchange (NSE) has launched the rupee-denominated WTI crude oil and natural gas futures contracts in its commodity derivatives segment, the leading stock exchange said on Monday.
West Texas Intermediate (WTI) crude oil is a specific grade of crude oil and one of the main three benchmarks in oil pricing markets, along with Brent and Dubai Crude.
The addition of these contracts has expanded NSE's product offering in the energy basket as well as its overall commodity segment.
The launch of these contracts will provide effective trading and hedging opportunities to the market participants, with the availability of key energy products on a single trading platform.
"It gives us immense pleasure to inform the market participants that NSE has launched the NYMEX WTI Crude Oil and Natural Gas futures contracts today. NSE has been the trusted exchange of market participants for close to three decades, due to its robust technology platform with high levels of safety and resilience for trading. With NCL providing settlement guarantee and ease of collateral fungibility across all NSE market segments, we hope that these two contracts will provide market participants with an efficient avenue to hedge their price risk and meet their trading objectives," said Sriram Krishnan, Chief Business Development Officer, NSE.
NSE was the first exchange in India to implement electronic or screen-based trading. It began operations in 1994 and is ranked as the largest stock exchange in India in terms of total and average daily turnover for equity shares every year since 1995.
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor