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ICEX launches world’s first diamond futures contracts on August 28

29 Aug 2017 Evaluate

Indian Commodity Exchange (ICEX) has launched the world’s first diamond futures contracts on August 28, 2017 in order to provide exporters with a hedging tool. The 1-carat contract for expiry in November, December and January will have delivery centre at Surat.

With this launch, the exchange has paved the way for the creation of the world’s first organized, transparent and regulated derivatives market for diamonds, which will enable hedging and price discovery in the precious stone.

ICEX, a screen-based online derivatives exchange for commodities, had completed a pre-launch mock trading between August 7 to 11.