India's NSE receives regulatory okay for natural gas futures
India's National Stock Exchange (NSE) said that the country's market regulator has approved the launch of rupee-denominated NYMEX crude oil and natural gas futures contracts in its commodity derivatives segment.
NSE said earlier this month that it signed a data licensing deal with CME Group Inc to list, trade and settle rupee-denominated U.S. West Texas Intermediate (WTI) crude and Henry Hub natural gas futures.
The contracts are designed to provide market participants with a more efficient way to manage their price risk, NSE said in a statement. It will set a launch date later.
The move will expand NSE's commodity segment, which already provides trading in gold, copper, silver and Brent crude .
The Multi-Commodity Exchange of India Ltd (MCX), the country's largest commodity derivatives exchange, already has crude and natural gas futures.
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