PALAK SHAH The crude oil fiasco at the MCX is giving renewed hopes to both NSE and BSE. Both the exchanges are organising webinars to attract oil traders on to their respective platforms that have not seen much churn since launch last year.
April month crude oil futures on the MCX was settled at negative pricing, resulting in traders losing a whopping ₹442 crore. This has upset a number of traders on the MCX.
The trading software at the MCX does not allow negative bidding but the exchange on its own set (minus) ₹2,884 as settlement price for its contracts after the markets closed at ₹965 per barrel on April 20.
