The Indian Commodity Exchange (ICEX) launched the world’s first diamond futures contracts to provide exporters with a hedging tool. India is a global diamond polishing hub where 14 out of every 15 rough diamonds in the world are polished.
At the launch, the first diamond contract for delivery in November was traded at Rs 3,279/cent. With over 103 registered members so far, ICEX has launched 1 ct diamond futures contract for delivery in November.
Important Takeaways from Above News-
- Indian Commodity Exchange Limited is deemed recognized Stock exchange under the SCRA,1956.
- Mr. Ashok Sinha is the Chairman of Public Interest Director of ICEX.
Source- Business Standard