MCX crude oil options register turnover of Rs 716 cr

Leading commodity bourse MCX said Tuesday its crude oil options have completed one year and registered a record turnover of Rs 716 crore on Monday. The contract continues to gain momentum and witnesses increased acceptance amongst various stakeholders, the exchange said.

The European-styled crude oil options are based on the underlying MCX crude oil futures contract (100 barrels) traded on the exchange. "We are delighted that crude options has received such a great response which also coincides with its launch anniversary, that is May 15, 2019," MCX MD and CEO P S Reddy said.

Paired with MCX's existing energy product suite, the crude options contract draws an equally strong appeal from the market participants who increasingly rely on the Exchange for their diverse requirements, he said.