NCDEX India seeks Sebi’s approval to launch aluminium options contract
India’s National Commodity & Derivatives Exchange Limited (NCDEX) has sought permission from the Securities and Exchange Board of India (SEBI) to launch options trading in aluminium. The online commodity exchange wants to introduce options trading in non-farm items including select base metals, NCDEX MD and CEO Samir Shah confirmed media.
"Our main focus is on options now. We want to launch non-agri items especially nickel and aluminium. It will all depend on the Sebi's approval. We have sought permission," Shah told PTI recently.
Sebi has given a nod to futures option trading as underlying.
According to Investing Answers, an options contract is an agreement between a buyer and seller that gives the buyer the option and/or the right to buy or sell a particular asset at a future date (any time during the contract's life) at an agreed upon price. Options contracts are used in securities, commodities, and real estate transactions.
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