MCX to launch options trading in crude oil on May 15

New Delhi, May 8 (IANS) Commodity trading bourse Multi Commodity Exchange on India (MCX) said on Tuesday it would launch options trading in crude oil on May 15.

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."

(This story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)