National Stock Exchange Ltd. is preparing to enter asset classes such as agricultural and non-agricultural commodities as the markets regulator allowed convergence of stock and commodity exchanges.
India’s largest exchange will be ready to offer commodity derivative products by October 2018, Chief Executive Officer Vikram Limaye told BloombergQuint in an interview.
The Securities and Exchange Board of India allowed all exchanges in the country to trade both securities and commodity derivatives with one unified licence from October 2018. The integration of brokers and market participants in both asset classes was proposed by the Finance Minister during his Union Budget speech earlier in the year.
Limaye said it was premature to talk about the type of products the bourse will launch.
The devil’s always in the details so we’ll see what the guidelines are.Vikram Limaye, CEO, NSE