01MAR2019 - NEWS - National Stock Exchange of India to launch crude oil contracts today

National Stock Exchange of India (NSE) will launch its inaugural crude oil contract on March 1, and has signed an agreement with ICIS, a leading global market information provider for the energy and petrochemical markets, to licence its BFOE (Brent-Forties-Oseberg-Ekofisk) market data. The exchange will launch two cash settled futures product — 100 barrel Brent Crude Oil Futures and 10 barrels Brent Crude Oil Mini Futures. The trading period for both these futures will be between Monday to Friday and the trading session would be 9:00 am to 11:30 pm or 11:55 pm India Standard Time (IST).The initial margin on this contract would be minimum 4% or based on SPAN whichever is higher. NSE has worked closely with ICIS to design a robust system that brings international best practice to help customers in India to access global crude markets. As part of the daily compilation of the index, NSE is licensing ICIS BFOE assessment data, which is produced five times a day in accordance with established ICIS methodologies.

Published by Editor - www.Livebunkers.com at 01-Mar-2019 05:57:34 [UTC] , contact editor at editor@livebunkers.com