National Commodity and Derivatives Exchange Limited (NCDEX) on Monday launched the futures contract on NCDEX GUAREX, India’s first sectoral index in agri-commodities basket.
NCDEX GUAREX is a price based index tracking the price movement in the futures contracts of its underlying i.e. Guar Seed and Guar Gum Refined Splits on a real-time basis. The weightage of Guar Seed and Guar Gum Refined Splits in the index will be 63.43 percent & 36.57 percent, respectively.
“I take pride in announcing the launch of NCDEX GUAREX futures – India’s first sectoral agri-index futures contract. I am sure the contract will garner interest from all sets of participants, including the physical market participants,” said Mr. Arun Raste, managing director and chief executive officer, NCDEX.
The exchange had launched the indicative or spot contracts for NCDEX GUAREX on July 05, 2021 disseminating the real-time values on its website. GUAREX futures is a cash-settled contract and encompasses an entire sector within one product. Initially, NCDEX GUAREX futures contracts expiring in September 2021 and October 2021 will be made available for trading.