MCX enables exchange software to trade negative price or below Re 1

After all trading softwares are approved, mock trading will be done and then trading can happen in negative price

After a month of controversial settlement of crude oil contract at a negative price or price quoted in minus, the MCX has issued a circular saying that it has now enabled its software-system to quote and trade at negative (minus) price or price below rupee one.

On April 20, MCX settled crude oil futures Rs 2,884 minus even as their software was not permitting negative price trade. This was because the contract term was to settle it at Nymex crude oil close on the MCX settlement day and Nymex crude which trade in WTI based shale crude oil close minus