Indian Commodity Exchange (ICEX) has unveiled 30-cents diamond futures contracts, adding to its existing product basket of 1-carat and 50-cents contracts. The exchange now serves a larger chunk of the diamond industry in terms of providing direct hedging facilities.
Initially, three monthly futures contracts of 30-cents diamonds will be available for trading on the exchange for July 2018, August 2018 and September 2018. The important quality parameters for diamonds to be traded on the exchange platform are HVS2, triple X with pointed culet and negligible fluorescence.
The exchange had earlier launched the world's first diamond derivatives contracts in August last year with 1-carat futures contracts, and had subsequently added the 50-cents contracts.