Tendersinfo keep you informed about the latest events in the national and international Procurement Industry. Procurement News provides in-depth coverage of the procurement industry, including contract awards, contract additions, new contract wins, mergers and acquisitions. Tendersinfo through its tender news section provides an update on all domestic and global tendering opportunities, invitation to bid & trade leads.

Publish Date : 10-Oct-2018

Indias premier stock exchange BSE, Asias oldest exchange and now worlds fastest exchange with the speed of 6 microseconds, has entered into an a licensing agreement with the London Metal Exchange (LME) a premier base metals-focused commodities exchange. The London Metal Exchange is the world center for the trading of industrial metals the majority of all non-ferrous metal futures business is transacted on LME platforms.

The Securities and Exchange Board of India (SEBI) had on December 28, 2017 announced that from October 2018, the country would have a unified exchange regime wherein stock exchanges would be allowed to offer trading in commodities derivatives. The BSE has begun trading in commodity derivatives from October 1, 2018 with non-agriculture commodities like metals initially, followed by agri commodities subsequently.

The partnership will strengthen BSE's and LME's global collaboration and support opportunities that will mutually benefit the exchanges. The agreement is designed to facilitate closer cooperation in areas such as product development, training and the sharing of market resources. The licensing agreement will also allow BSE to use the prices of LME's Base Metals contracts to price its proposed base metals futures contract.

Shri Ashishkumar Chauhan, BSE MD & CEO said, The agreement will enable a better understanding of the market dynamics of the base metals industry in India. It will integrate the Indian market with the global market more effectively and foster world-class best practices in commodity derivative market. The agreement will enable us to work together towards our mutual interests, enhance business opportunities, extend global reach and will gradually result in benefits for our customer base and also help in bringing exciting products to the Indian marketplace. We are happy to provide the Indian metal industry with a mechanism to hedge their price risk, based on a globally efficient market, within the country, at an affordable cost and at no additional risk.

Go to previous page