National Stock Exchange (NSE) will launch crude oil contract on Friday for which it has signed an agreement with ICIS to license its BFOE (Brent-Forties-Oseberg-Ekofisk) market data. ICIS is a global information provider for the energy and petrochemical markets.
The exchange will launch two cash settled futures product — 100 barrel Brent Crude Oil Futures and 10 barrels Brent Crude Oil Mini Futures. The trading period for both these futures will be between Monday to Friday and the trading session would be 9:00 am to 11:30 pm or 11:55 pm India Standard Time (IST).The initial margin on this contract would be minimum 4% or based on SPAN whichever is higher.
