Mumbai: The National Commodity and Derivatives Exchange (NCDEX) launched futures contracts on NCDEX GUAREX on Monday.
NCDEX GUAREX is a price-based index that will track the price changes of its underlying futures contracts (such as guar seeds and guar gum refined split) in real time. “I am proud to announce the launch of NCDEX GUAREX futures? India’s first sectoral agricultural index futures contract. I believe this contract will attract the interest of all participants, including physical market participants,” NCDEX Managing Director and Chief Executive Officer Alan Last said.
Earlier on July 5, the exchange launched an indicative or spot contract of NCDEX GUAREX to spread real-time value on its website. GUAREX futures is a cash-settled contract that encompasses the entire industry in one product. Initially, NCDEX GUAREX futures contracts that will expire in September 2021 and October 2021 will be available for trading.