BSE receives Most Innovative Contract of the Year at FOW International Awards 2022.
BSE, India’s premier exchange and the world’s fastest stock exchange, has been recognised as the Best and Brightest Innovations in the Derivatives Industry at the FOW International Awards 2022 at London, Europe. BSE has received the Most Innovative Contract of the Year for launching a unique contract, Almond in Shell Futures Contract.
This is a prestigious recognition for BSE, as a leading player on a global stage to win amongst the Best and Brightest Innovations in the Derivative Industry. The event gathered derivatives market participants and focussed on the futures and options market.
With over two years of successful trading on the exchange platform, the world’s only Almond in Shell Futures Contract was launched in June 2020 by the BSE. Participants in the market have been extremely positive about the said contract. Since its launch, BSE’s Almond in Shell Futures Contract has seen physical deliveries to the tune of 242 metric tonnes along with an average of 1772 metric tonnes being traded every month aggregating to a monthly average of Rs 948.96 million.
Shri. Sameer Patil, Chief Business Officer, BSE said, “We’re proud to receive the Most Innovative Contract of the Year award at FOW International Awards 2022. With the launch of this contract, market participants/stakeholders/importers can safeguard themselves against price fluctuations giving them an avenue to lock their profits and enhance their working capital. In our constant endeavour to spread the awareness amongst the stakeholders, BSE has also installed a ticker at APMC Vashi, Mumbai Market. Price distribution will serve as a reference for physical market transactions which in turn will enhance more visibility of the discovered price through the BSE platform for the traders, particularly since the demand for information in commodities markets is growing all the time.”