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| Trade norms eased for commodity contracts |
| Newswire18 / Mumbai Jun 10, 2009, 00:04 IST |
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The Forward Markets Commission (FMC) has allowed commodity exchanges to permit traders to take fresh positions till the date of expiry in futures contracts of some internationally-linked commodities, exchange circular said.
The National Commodity and Derivatives Exchange (NCDEX) and MCX have issued circular specifying which commodities on their platform will benefit from this move.
On MCX, traders can now take fresh positions till expiry in platinum, certified emission reductions, CFI, aviation turbine fuel, crude palm oil, gold HNI, silver mini, silver HNI, heating oil and petrol.
NCDEX contracts such as gold international, silver international and certified emission reductions will benefit from the move.
The move is expected to help in price discovery as these contracts are closely linked to global benchmarks and inability to take fresh positions ahead of expiry often left traders bereft of the opportunity to hedge their price risks.
These commodities are in addition to some existing commodities that FMC had permitted earlier.
In 2006, FMC had permitted traders to take fresh positions till the expiry date in contracts of zinc, copper, aluminium, lead, tin, nickel, crude oil and natural gas.
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