BSE signs Brent agreement with ICE

Oil rig from Fotolia 230x150
By Ross Lancaster
27 Jan 2020

BSE, formerly the Bombay Stock Exchange, will use the Intercontinental Exchange’s ICE Brent Index as the final settlement price for its Brent futures contract.

The Indian exchange will use the index as part of a licensing agreement with ICE. The futures contract will be denominated in rupees.

BSE chose the Brent benchmark due to its high correlation with the Indian crude oil basket, the weighted average of Oman and Dubai sour crude ...

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