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NCDEX-IPE TIE UP FOR RUPEE-BASED TRADE IN BRENT FUTURES (the NCDEX Brent crude oil futures contract will be 100 barrels; it will be traded and cleared exclusively on NCDEX).
(From India Business Insight)
The National Commodity and Derivatives Exchange (NCDEX) and International Petroleum Exchange (IPE) of Europe have allied to let Indian participants to trade rupee-denominated Brent crude oil futures contracts, priced and settled with reference to the benchmark IPE Brent crude futures contract.
NCDEX will launch a rupee-denominated Brent crude oil futures contract to be traded on NCDEX in India and settled on its monthly expiry with reference to the IPE Brent Index. The deal for the NCDEX Brent crude oil futures contract …
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