India’s MCX signs licensing deal with NYMEX

Jul 14, 2006 02:00 AM

The Multi Commodity Exchange of India Limited (MCX) has signed a five-year licensing agreement with the New York Mercantile Exchange for the use of NYMEX energy futures settlement prices.
In addition to the current MCX rupee-denominated, financially-settled light sweet crude oil futures contract, which is one-tenth of the size of the Nymex light sweet crude oil futures contract, the new licensing agreement includes rupee-denominated natural gas, heating oil, and gasoline futures contracts that MCX plans to launch.

These new contracts will be financially settled by MCX based on the settlement prices for the corresponding physically settled Nymex futures contracts and one-tenth of the size of the NYMEX contracts.
The agreement also anticipates the launch of additional rupee-denominated contracts in RBOB gasoline and propane futures.

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