NSE to launch commodity derivatives segment on Oct 12

The National Stock Exchange(NSE) will launch its commodity derivatives segment from October 12 following representations received from several trading and clearing members, according to a release.

Both the NSE and the BSE were to launch the segment from October 1.

In a release Friday, the NSE said that several members suggested that more time be given to market intermediaries to put in place appropriate systems at their end for trading in commodity derivatives.

"We have also received suggestions that the launch of a new segment should be done after the Pitru-Paksha' in the auspicious period of Navratri.

"Respecting members' feedback and sentiment, we have decided to launch its commodity derivative segment on October 12," it said.

Meanwhile, the exchange has received Sebi's approval for introducing futures contracts on Gold 1 kg, Gold Mini 100 gram and Silver 30 kg on its commodity derivatives segment.

The approval for starting the segment was received from Sebi on September 19.

The BSE would be launching its commodity derivatives segment on October 1.