According to the India National Stock Exchange (NSE) press release on March 1, 2023, India's leading stock exchange, National Stock Exchange (NSE), has received the approval from Securities & Exchange Board of India (SEBI), to launch the rupee denominated NYMEX WTI Crude Oil and Natural Gas (Henry Hub) futures contracts in its Commodity derivatives segment.
Earlier, NSE had signed a data licensing agreement with CME Group allowing NSE to list, trade and settle rupee denominated NYMEX WTI Crude Oil and Natural Gas (Henry Hub) derivatives contracts on its platform. The addition of these contracts will expand NSE's product offering in the Energy basket as well as its overall commodity segment. These contracts are designed to provide the market participants with a more efficient way to manage their price risk.
Shri Sriram Krishnan, Chief Business Development Officer, NSE said: "It gives us immense pleasure to inform the market participants that NSE has received the regulatory approvals to launch the NYMEX WTI Crude Oil and Natural Gas futures contracts. It has always been our objective to provide the market participants with a suite of dynamic & robust financial products. We hope that it provides the market participants with an efficient avenue to hedge their price risk and meet their trading objectives. We will announce the launch date of these contracts soon."
About National Stock Exchange of India Limited (NSE):
National Stock Exchange of India (NSE) is the world's largest derivatives exchange by trading volume (contracts) as per the statistics maintained by Futures Industry Association (FIA) for calendar year 2022. NSE is ranked 3rd in the world in the cash equities by number of trades as per the statistics maintained by the World Federation of Exchanges (WFE) for calendar year 2022. 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, based on SEBI data. NSE has a fully integrated business model comprising exchange listings, trading services, clearing and settlement services, indices, market data feeds, technology solutions and financial education offerings. NSE also oversees compliance by trading, clearing members and listed companies with the rules and regulations of SEBI and the exchange. NSE is a pioneer in technology and ensures the reliability and performance of its systems through a culture of innovation and investment in technology.
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