Indian exchange to list IPE Brent crude futures

Oil traders in India will from September 15 be able to trade rupee-denominated Brent crude futures, settled monthly by reference to the benchmark IPE Brent crude futures contract.

London’s International Petroleum Exchange (IPE) has struck an agreement with India’s National Commodity and Derivatives Exchange Limited (NCDEX) to this end.

Mumbai-based NCDEX, which currently lists agricultural products and metals contracts, will list and clear a rupee-denominated Brent crude futures by reference to the IPE Brent index. The IPE will make available its real-time prices on the 6,500 NCDEX trading screens in India.

This is another step towards expansion in Asia for the IPE

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