The exchange received Securities and Exchange Board of India's approval for the launch last week.
"Multi Commodity Exchange of India will launch options trading with crude oil (100 barrels) futures as the underlying on May 15, 2018," MCX said in a statement, adding that two crude oil options contracts, expiring on June 15, 2018 and July 17, 2018 would be available for trading on the day of launch.
"These contracts have been designed to meet crude oil stakeholders' hedging needs so as to protect them from rapid price fluctuations following market uncertainties."
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