Date:04/02/2005 URL: http://www.thehindu.com/2005/02/04/stories/2005020404331400.htm

Business - Briefly

Futures trading in crude

NEW DELHI, FEB. 3. The Multi Commodity Exchange will launch on February 9 crude oil futures trading, which will allow producers, refiners, traders and consumers of petroleum products to manage the volatility in crude oil prices.

"We already have a spot market for crude and now we will introduce futures trading in the commodity. The Petroleum Minister, Mani Shankar Aiyar, is expected to launch it on February 9,'' Deputy Managing Director of MCX, Joseph Massey, said at the India Energy Mart here today. — PTI