NCDEX: Futures contract to start next week

May 20 2020 07:36 PM
NCDEX: Futures contract to start next week

On Wednesday, the National Commodity and Derivatives Exchange (NCDEX) said it would start futures contracts on NCDEX Agradex, which would be available for trading from next week. NCDEX said in a statement, the NCDEX Agradex futures contract expires in June 2020, July 2020, September 2020 and December 2020. It will be available for trading from May 26.

The 10 agri-commodities that will be traded on Agradex include soybean, guar seed, castor seed, gram, coriander, cottonseed oil cake, guar gum, cumin, RM seed and soy oil. Vijay Kumar, MD and CEO of NCDEX said, 'Agriculture is a major foundation of the Indian economy, which contributes significantly to employment and economic growth. We have always played an important role in providing risk management tools for the Indian agricultural value chain.

In his statement, he said that these contracts will provide investors with another tool for trading and risk management at an aggregate level. The introduction of Agradex Futures is another step in the same direction. Also, Agradex is a return-based index consisting of 10 liquid commodities traded on NCDEX with commodity and sector-wise floor and cap. It has little connection with other asset classes and indices. NCDEX stated that to ensure diversification, no group of related items can make more than 40 percent of the total weight in the index.

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