Open Interest on NCDEX up 31% in Aug

Average daily turnover volume for the month stood at Rs 3,514 crore

Open interest on the leading commodity exchange NCDEX last month was Rs 6,901 crore, up 31% against a year ago.

Open Interest is the total number of contracts or deals of an underlying commodity that have neither been offset and closed by an opposite transaction nor fulfilled by delivery of the cash.

"Open Interest is an extremely important metric that shows the health and effectiveness of an exchange. We have the best volume to open interest ratio in the country and we will continue to aggressively build on it," NCDEX MD & CEO Samir Shah said.

The average daily turnover volume (ADTV) for the month stood at Rs 3,514 crore with 93,396 MT of commodities delivered through the exchange platform in August, NCDEX said in a statement here.

In the agri segment, monthly total volume was Rs 68,495.21 crore. The top three commodities were castor seed, refined soya oil and soyabean.

The total traded volume for refined soya oil was Rs 12,853 crore, while for soyabean it was Rs 7,051 crore. Castor seed futures clocked volumes of Rs 14,514 crore; with over 18% year-over-year growth. 10 MT guar seed also saw excellent participation, clocking a volume of Rs 4,925 crore, 300 percent y-o-y growth.

The Exchange received approval from the regulator to introduce exchange traded forward contracts and has introduced a new membership category in it.