Indian Commodity Exchange (ICEX) has launched 50 cents Diamond futures contract on November 27, 2017. The contract was launched in Surat in a seminar on diamond derivative organized by the exchange. The seminar was aimed at educating and training the market participants on the usage and benefits of the diamond derivatives market.
To start with futures contracts i.e. February 2018, March2018 and April 2018 would be available for trading. The important quality parameters are HVS2, triple X with pointed culet and negligible fluorescence.
The delivery and settlement of 50 cents diamond contract shall be similar to 1 carat of diamond. All deliveries of futures contract during tender period or on expiry will be in electronic form only.