BSE signs licensing agreement with ICE Futures Europe

BSE signs licensing agreement with ICE Futures Europe
BSE, India’s leading exchange, has signed a licensing agreement with Intercontinental Exchange, Inc, a leading operator of global exchanges and clearing houses and provider of data and listings services, for the use of the ICE Brent Index as the final settlement price for BSE’s rupee-denominated Brent futures contract.

India is one of the largest consumers and importers of crude oil in the world, and Brent crude is highly co-related with the Indian crude oil basket. This licensing agreement will help Indian market participants access Rupee-denominated Brent benchmark prices and deepen the Indian commodity markets by providing convenient and cost-effective onshore hedging products. It will also enable the price discovery of Brent crude prices in the Indian time zone based on domestic fundamentals.

Ashishkumar Chauhan, MD & CEO, BSE, said “BSE welcomes the collaboration with ICE. We look forward to a long-lasting relationship to further deepen our commodity markets.”

BSE is dedicated to deepening the Indian commodity markets by providing traders, investors and all market participants convenient and cost-effective onshore hedging products. Oil producers, refiners, users and investors in India can benefit from access to Brent crude prices. This agreement with ICE marks a new milestone and will go a long way in serving the needs and interests of the Indian energy commodities space.




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