Financial Daily from THE HINDU group of publications
Tuesday, Jun 06, 2006

Cross Currency

Group Sites

Industry & Economy - Petroleum
Agri-Biz & Commodities - Commodity Exchanges

MCX, NYMEX in pact for energy futures

Our Bureau

Mumbai , June 5

The Multi Commodity Exchange of India Ltd (MCX) and the New York Mercantile Exchange (NYMEX) on Monday entered into an exclusive licensing agreement for launching mini-NYMEX energy contracts on MCX.

Mr Sharad Pawar, Union Food and Agriculture Minister, signalled the agreement coming into effect with the traditional ringing of the bell. Mr Richard Schaeffer, Chairman, NYMEX, and Mr Venkat Chary, Chairman, MCX, signed the agreement on behalf of their exchanges.

The agreement will cover WTI light sweet crude oil, natural gas, heating oil, gasoline, RBOB gasoline and propane futures contracts of NYMEX.

The final settlement of these mini-contracts will be done based on the settlement price of reference contracts on NYMEX adjusted for local duties and taxes and in local currency.

More Stories on : Petroleum | Commodity Exchanges

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Monsoon may enter weak phase

Punjab & Sind Bank hikes NRE, FCNR deposit rates
Petrol price up Rs 4, diesel Rs 2
Grains of failure
Ennore port projects get environment clearance
NGO concern over Kolleru fish tanks destruction
Pvt players may be allowed to invest in forest lands
TDB invites tender for Pampa river project
Fuel price hike: Left, BJP plan protest
MCX, NYMEX in pact for energy futures
Pharmexcil plans biz delegation to four countries
MRTPC's interim order against Pune pharma body
PFC files draft prospectus with SEBI for IPO
Load shedding is now history for Pune city
APERC public hearing today
Maharashtra VAT claim settled
CII to promote clusters in small-scale sector
Workshop on group discussions
School gets `Manorama' prize
Trek to school
ICFAI career meet
Bangalore Bio begins tomorrow
Study highlights changing attitude of Indian women
Summer jobs: A lucrative option for students
Withdraw new tax returns form: CAIT
Chinese fabrics make inroads into India
`Scope for more luxury trains'
Verghese Kurien to resign from IRMA

The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2006, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line