MCX issues press release for completion of crude oil contract settlement on 22 April

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Multi Commodity Exchange of India issued the following press release on 22 April 2020 -

"The Crude Oil futures contracts are traded in MCX for the last 15 years and the said contracts are always settled at Due Date Rate as specified in the contract specification i.e. New York Mercantile Exchange's (NYMEX) WTI Crude oil front month contract's settlement price converted into Indian Rupees.

The Crude Oil futures contracts expired on April 20, 2020 was settled based on NYMEX WTI crude oil front month contract's settlement price at (-) Rs. 2884 (i.e. - $37.63 converted into Indian Rupees at RBI USDINR reference rate of Rs 76.6335) and rounded off to the nearest tick.

International exchanges such as ICE Futures US, ICE Futures Singapore, DGCX and Moscow Exchange, having cash settled NYMEX WTI Crude Oil Futures contracts, have also settled their corresponding contracts at NYMEX WTI crude oil front month contract's settlement price of (-) $37.63.

Today's pay-in and payout, including the settlement of April 20, 2020 Crude Oil contract, has been completed and a payout of Rs 242.32 crore has been made to clearing members of the MCXCCL."

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