You are here: Home » Markets » Commodities » Precious Metals
Business Standard

MCX applies for diamond futures trading, awaits Sebi approval

On Monday, ICEX became the world's first exchange to start trading of diamond futures contracts

BS Reporter  |  Mumbai 

MCX applies for diamond futures trading, awaits Sebi approval

(MCX), largest commodity derivatives exchange for metals and energy including precious metals, has also applied for the launch of futures trading in diamonds with the Securities and Exchange Board of India (Sebi). 

On Monday, Indian Commodity Exchange (ICEX) became the world's first exchange to start trading of contracts in the world.

has two options for settlement price. If Sebi permits, according to sources, it will use prices settled on the Singapore Diamond Investment Exchange (SDiX), the world's first and only commodity exchange trading in physically settled diamonds. Or, it will do polling like  

had signed a memorandum of understanding (MoU) with SDIX for establishing areas of cooperation between the two exchanges. 

is optimistic on the success of trading if permitted, as gold is the most vibrant commodity for trading on the exchange and therefore, the majority of traders dealing in gold also deal or understand trading.

First Published: Tue, August 29 2017. 01:00 IST
RECOMMENDED FOR YOU