BSE Commodities gains momentum with 10% market share in gold in first week

The new BSE segment has experienced an impressive growth since its introduction on October 01, 2018.

Oct 12, 2018 10:10 IST India Infoline News Service

Bombay Stock Exchange
BSE's Gold Contract, on Wednesday, October 10, 2018, witnessed a turnover of Rs191.4cr, 10% of the gold contracts traded across competitive exchanges. BSE has become the second-largest exchange for gold and silver contracts in India.  

BSE commenced trading in gold and silver contracts on October 1 this year to mark its entry into the commodity derivatives segment and become India’s first universal stock exchange with all assets classes, including equity, mutual funds, currency, and commodity in its portfolio.

BSE Commodity Segment has experienced an impressive growth since its introduction. The upward trend of the turnover and market share explains the progress. The turnover increased to Rs227.35cr on October 9, 2018, from Rs44.02cr on its first day of operations.

The transaction charges have been waived off for the period of one year for BSE commodities segment. Algo traders have also started providing two-way quotes on BSE commodities now. Two-way spread between bids asked has now become better than any other commodity exchanges in India. More and more brokers are also joining the commodity segment. More than 450 trading members have already shown willingness to participate in the BSE commodities segment.

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