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India INX to launch Gold Quanto, Silver Quanto futures contracts on Aug 31


NEW DELHI: BSE’s India International Exchange (India INX) has received regulatory acceptance for launching Gold Quanto and Silver Quanto futures contracts. “Trading in these Quanto futures contracts at India INX will commence via Monday, August 31, 2020,” a release explained on Wednesday.

The main assets for Gold Quanto futures is Indian Gold spot purity 995 as well as Silver Quanto futures will be Indian Silver spot love 999.

According to the discharge, trading hours for these contracts would be from 4.30 am to 5 evening (session 1) and via 5 pm to 2.30 am (Session 2). It would be from Monday to Friday.

“The available contracts for both Quanto futures contracts is twelve (12) serial monthly contracts. Each Quanto futures contracts is going to be settled in cash in YOU Dollar,” it additional.

India INX MD plus CEO V Balasubramaniam explained these products will attract market contributors looking for foreign commodity coverage but without the accompanied swap rate risk.

“These Quanto futures contracts will provide these kind of market participants an effective off-set against exchange rate variations. It will further enhance India INX’s position as an intercontinental exchange where you get almost all products at one area, seamlessly,” he explained.

India INX is located in this GIFT IFSC (International Finance Centre).

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