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NSE, NSE IFSC sign licensing agreement with LME

Press Trust of India  |  New Delhi 

Leading NSE and NSE IFSC Ltd, the international at in Gujarat, have entered into a licensing agreement with the (LME) to source its for settlement of futures contracts.

This comes a day before NSE is set to launch trading in commodity derivatives.

The licensing agreement would permit NSE and NSE IFSC to use the prices for settling various commodity futures contracts subject to receiving regulatory approvals, the National Stock (NSE) said in a statement Thursday.

is the world centre for the trading of industrial metals -- the majority of all business is transacted on platforms.

"The licensing agreement with LME affirms NSE's commitment to deepen the Indian commodity markets by providing convenient and cost-efficient onshore hedging mechanism for domestic as well as global participants. We look forward to working together for identifying innovative and far reaching products suitable to the Indian commodity market space," NSE MD and said.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, October 11 2018. 19:06 IST