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India’s ICEX to Offer 0.50ct. Diamond Futures
Nov 28, 2017 7:33 AM
By Rapaport News
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RAPAPORT... The Indian Commodity Exchange Limited (ICEX) has launched
diamond-futures contracts for 0.50-carat diamonds, having previously only
offered trading in 1-carat stones.
The new opportunity will enable dealers of half-carat
diamonds to sell futures as a way of hedging against price fluctuations, ICEX
said in a statement Monday. The so-called “50-cent” category makes up a large
proportion of the diamonds in jewelry such as engagement rings, earrings and
bangles, the exchange pointed out.
“The physical market for half-carat diamonds is almost
three times that of 1-carat diamonds in India,” said Sanjit Prasad, managing
director and CEO of ICEX. “[The] launching of 50-cent contracts provides a
direct hedging tool to the large number of stakeholders who have exposure to
this category of diamonds.”
ICEX launched trading in 1-carat diamonds in August.
Image: Shutterstock
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Tags:
diamond futures, Futures, ICEX, Indian Commodity Exchange Limited, Rapaport News, Sanjit Prasad
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