MCX’s crude oil options record turnover of Rs 716 crore

Kolkata: India’s first crude oil options launched by Multi Commodity Exchange of India Ltd (MCXNSE -2.12 %) complete one year today with a record turnover of Rs. 716 crore on May 13, 2019. The contract continues to gain momentum and witness increased acceptance amongst various stakeholders, a release issues by the exchange said.

The average daily volume (ADV), average daily turnover (ADT) and average daily open interest (AOI) have registered a growth of 226%, 195% and of 250% respectively in May 2019 (till May 13, 2019) vis-a-vis its performance in May, 2018. Notably, the options to futures OI ratio percentage in crude oil hit a record high of 72 in May 2019. The European-styled crude oil option is based on the underlying MCX crude oil futures contract (100 barrels) traded on the exchange.