MCX to launch ATF futures next month

Mumbai: Multi Commodity Exchange (MCX) is all set to launch Aviation Turbine Fuel (ATF) futures contracts early next month.
In this regard, the exchange has received an official approval from the regulator, Forward Markets Commiss
ion (FMC). After Tokyo Commodity Exchange (TOCOM), MCX is the second futures exchange in the world to launch the futures trading in ATF.
Currently, ATF is not available for futures trading in the country. “We have received an official permission from the regulator to launch futures trading in ATF. We have not yet decided the date of launch but we are planning to start the futures trading by early next month. We have started seminars to educate our members and participants before the launch,” Joseph Massey, Managing Director MCX told FE.
As per the contract specification, the trading unit would be One kilo liter and delivery unit would be 10 kiloliter. The delivery centre would be Mumbai and the contract will have both sellers and buyers option, he said. The MCX ATF futures contract would be similar to TOCOM kerosene contract (JIS K2203 Grade 1).
18/06/08 Dhimant Bhatt/Financial Express

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Categories: Indian Aviation- In General Jun 2008