India’s leading exchange, the National Stock Exchange of India Limited (NSE) on Thursday notified that it will launch its crude oil futures contract effective from today, the first March 2019. The Exchange has inked an accord with ICIS, a leading global market information contributor for the energy and petro-chemical markets, to license its BFOE (Brent Forties Oseberg Ekofisk) market data.
Accordingly, the NSE will commence two cash settled futures product viz, 100-barrel Brent Crude Oil Futures and 10-barrels Brent Crude Oil Mini Futures. The initial margin on the contract would be minimum 4percent.
The trading period for the100-bl Brent and 10-bl Crude futures will be between Monday to Friday. The trading session would be 9.00AM to 11.30 PM, the exchange said.