The Bombay Stock Exchange (BSE) has signed a licensing agreement with Intercontinental Exchange (ICE) Futures Europe. Intercontinental Exchange (ICE) Futures Europe is an operator of global exchanges and clearinghouses.
India is one of the largest consumers and importers of crude oil in the world, and Brent crude is highly co-related with the Indian crude oil market. This agreement will serve the needs and interests to the Indian energy commodities space and market participants to access Rupee-dominated Brent benchmark prices. It will also help Indian commodity markets by providing convenient and cost-effective onshore hedging products and enable the price discovery of Brent crude prices in the Indian time zone.
Important takeaways for all competitive exams:
- Managing Director and CEO of BSE: Ashish Kumar Chauhan.
- Chairman of Bombay Stock Exchange (BSE): Vikramajit Sen.
- BSE Established: Mumbai, Maharashtra; Founded: 9 July 1875.
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