BSE gets Sebi's nod to launch copper contracts, trading to start on Nov 2

Leading stock exchange BSE on Friday said it has received markets regulator Sebi's approval to launch copper contracts with a trading unit of one metric tonne (MT) on its newly launched commodity derivatives segment.

Trading of these contracts will be launched on November 2, 2018, BSE -- formerly known as Bombay Stock Exchange -- said in a statement.

The exchange forayed into commodity derivatives segment with the launch of gold and silver futures contracts on October 1.

"BSE envisions becoming the most compliant exchange and emerging as a price setter in the commodities space. The bourse is looking at offering cost-efficient, convenient and most disciplined framework that will help bring more market participants on board," the exchange's MD and CEO Ashishkumar Chauhan said.

According to the bourse, the contract start day will be the first day of contract launch month and the final trading day will be the last day of contract expiry month. The commodity trading session will be from Monday to Friday from 10 am to 11.30/11.55pm.

Earlier this week, National Stock Exchange (NSE) said it has got permission from Sebi to launch copper large futures contract with a trading unit of 25 MT.