The BSE logged a turnover of ₹16 crore and ₹20 crore in gold and silver futures during the first half of trading, which ended at 6 pm on the inaugural day of commodity derivative trading launch.
Gold prices were up 0.29 per cent at ₹30,750 for 10 grams while silver increased three per cent to ₹38,480 a kg. The open interest was at 43 lots (of 30 kg) for silver and 9 lots (of 1 kg each) of gold.
Latest entrant
Being the latest entrant in the commodity space, the BSE has waived off transaction charges in its first year of operations. Like other exchanges, the BSE will conduct price polling to settle the first bullion contracts ending in December.
The BSE has already registered 142 trading members and 27 clearing members in the commodity derivatives segment. It expects to have over 450 members in 3-5 months.
Inaugurating the commodity trading on BSE, SK Mohanty, Wholetime Member, SEBI, said the exchange has brought a truly universal stock exchange with all segments of asset classes, including equity, mutual fund, currency, interest-rate futures and commodities.
With this, he added, there is no need for separate commodity or regional exchanges. All bourses will be stock exchanges with commodities as a segment, he said.
Ashishkumar Chauhan, Managing Director, BSE, said the exchange received expressions of interest from 442 members and is in the process of reviewing them.
In the second phase, the exchange has sought SEBI approval to launch crude oil and copper derivatives before focusing on other base metals. It will venture into agricultural commodities in the third phase with 60 commodities to trade over 3-4 years, he said.
Earlier, the National Stock Exchange put off the launch of its commodity trading platform to October 12 from October 1 on the request of traders.