BSE to start bullion futures; metals, crude oil and natural gas to follow

NSE says it's also ready, commexes want more time

The BSE has become the first bourse to come out with a detailed plan on commodities derivatives after the Securities and Exchange Board of India (Sebi) last week approved a proposal allowing universal exchanges.

The BSE on Thursday announced free membership for the commodities segment and said trading would be launched in phases, beginning with bullion, followed by base metals, and subsequently crude oil and natural gas.

Sebi has approved universal exchanges and has said these can begin functioning from October. The move will intensify competition among the BSE, the National Stock Exchange (NSE), the Multi-Commodity Exchange, the National Commodity & Derivatives