- Leading bourse NSE and NSE IFSC Ltd, the international bourse at GIFT City in Gujarat, have entered into a licensing agreement with the London Metal Exchange (LME) to source its base metal prices for settlement of futures contracts.
- This comes a day before NSE is set to launch trading in commodity derivatives which is scheduled on October 12.
- The licensing agreement would permit NSE and NSE IFSC to use the LME prices for settling various commodity futures contracts subject to receiving regulatory approvals.
- LME is the world centre for the trading of industrial metals — the majority of all non-ferrous metal futures business is transacted on LME platforms.
