Cogencis, Saturday, Aug 12
[C] India INX to launch gold options with 40 strike prices on Aug 30
--India INX gets SEBI nod for options trading in gold contract
--India INX launches gold 1-kg contract
By Shrikant Kuwalekar and Darshan Rane
PANJIM - India International Exchange has received the approval from the Securities and Exchange Board of India to launch gold options, V. Balasubramaniam, managing director and chief executive officer of the exchange said.
"We have received SEBI approval for options on our gold troy ounce futures contract and will launch it on Aug 30," he said on the sidelines of the India International Gold Convention here today.
"We will launch 40 strikes (prices) at $5 interval, then will cover $200 movement in gold prices," he added.
The exchange, which is a wholly-owned subsidiary of the BSE also launched gold 1-kg contracts on Friday. The contract will provide a hedging mechanism for domestic traders as prices will track rates by the India Bullion And Jewellers Association and converted into US dollar rates at the exchange rate notified by the Reserve Bank of India.
India INX already has a 32 ounce gold contract that tracks prices on the Dubai Gold and Commodities Exchange.End

US$1 = 64.13 rupees

Written by Roshni Devi
Edited by Harsh Vardhan

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