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ICEX total traded value for 1 CT diamond contract is Rs 327cr

Thursday, February 08, 2018

Sebi-regulated Indian Commodity Exchange (ICEX) yesterday said that the total traded value of its 1-carat (CT) diamond futures contract launched in November has clocked Rs 327 cr till date.

The 0.50 CT diamond contract clocked a total traded value of Rs 20.18 cr in the same period. "The total traded quantity in February 2018 expiry of 1CT diamond since launch was 10,24,783 cents valued at Rs 327.35 cr and in 0.50CT diamond total traded quantity was 1,36,632 cents valued at Rs 20.18 cr," ICEX said in a statement.

The exchange also said that it has successfully completed both 1 CT diamond and .50 CT diamond futures contracts settlements on February 5. In the February month expiry, 5,315 cents of 1CT diamond and 2,777 cents of 0.50CT diamond were delivered.

Commenting on the settlement cycle, Sanjit Prasad, managing director and CEO, ICEX, said,  "During the February 2018 expiry, we have seen a convergence of spot and futures price, one of the important features of derivatives market. All the open interest positions towards contract expiry resulted into delivery."

"We have witnessed wide spread retail buying interest from across the country whereas manufacturers from Mumbai and Surat primarily participated in the delivery," he added.
 

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