 "ICEX's mock trading session for diamond futures attracts huge volumes")
The pre-launch mock trading session in diamond futures on Reliance ADAG-anchored Indian Commodity Exchange Ltd (ICEX) has observed average volumes of around Rs 3,600 crore, ahead of its launch in August-end.
The one-week mock trading conducted last week saw participation from 62 members and their clients from 388 terminals. These sessions of mock trading observed a daily average turnover of close to Rs 3,600 crore with the highest daily turnover standing at Rs 7,855 crore. The total number of trades reported during the mock trading sessions stood at over 2.66 million.
"Pre-launch mock trading was aimed to demonstrate the robustness of the exchange trading system. It will help member brokers and their clients by giving them a hands-on experience on the features of the system and its processes, besides educating the participants about price discovery and hedging mechanism. This created confidence in the capabilities of the exchange to conduct trading and settlement operations," said Sanjit Prasad, managing director and chief executive officer, ICEX.
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