The Securities and Exchange Board of India has given its approval to the National Stock Exchange to start WTI crude oil and natural gas futures contracts.
In a statement on Wednesday, the bourse said that it can now offer futures contracts in rupees for Nymex WTI crude oil and natural gas (Henry Hub) in its commodities derivatives segment.
"The addition of these contracts will expand NSE's product offering in the energy basket as well as its overall commodity segment. These contracts are designed to provide the market participants with a more efficient way to manage their price risk," the NSE stated.
The launch date of WTI crude oil and natural gas contracts will be announced soon, said Sriram Krishnan, chief business development officer at the NSE.
In February, NSE signed a data licencing agreement with derivatives marketplace CME Group for listing, trading, and settling rupee-denominated WTI crude oil and natural gas contracts for Indian market participants.
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