National Stock Exchange of India (NSE) has received Securities and Exchange Board of India (SEBI) approval to launch copper large futures contract with a trading unit of 25 metric tonne (MT). In the international commodity markets, the 25 MT copper futures contract is one of the highest traded contracts and is considered as the global benchmark.
By introducing large size copper futures contract, NSE aims to provide convenient onshore hedging platform to large Indian corporates, refiners and various users in the value chain.
The large size contract offering will be settled by way of physical delivery incorporating world-class infrastructure and global best practices. It has the potential to significantly alter the commodities landscape in India.