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Our Bureau

New Delhi , Nov. 14

Indian Oil Corporation (IndianOil) has commenced trading in derivatives on the National Commodities & Derivatives Exchange (NCDEX). The company has recently acquired a trading-cum-clearing membership with NCDEX. IndianOil's first derivatives trade of crude oil was inaugurated by Mr Sarthak Behuria, Chairman, and was executed electronically through the NCDEX terminal at the company's corporate office here on Tuesday.

Speaking on the occasion, Mr Behuria said commencement of derivatives trading on the domestic exchanges would be an extension to hedging activities, currently undertaken by IndianOil through overseas over-the-counter markets. Mr S. V. Narasimhan, Director (Finance), said that IndianOil would fully utilise the platform, as a vehicle for its oil price risk management activities. IndianOil is actively acquiring membership of other domestic exchanges like Multi-Commodity Exchange too, he added.

More Stories on : Petroleum | Derivatives Markets | Commodity Exchanges

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