Comen starts crude oil, natural gas contracts

KATHMANDU: Commodities & Metal Exchange Nepal (Comen) has opened two new commodity futures contracts trading platforms — ‘crude oil’ and ‘natural gas’ — from today.

“As a part of our constant efforts to provide value and new products to our investors, we are pleased to announce two new products,” said Vijay Satyal, chief executive officer of Comen. The contract symbol for crude oil is CRUDE OIL and Comen is launching CRD/APR/10 contract. The trading unit for crude oil is 100 barrels and the base price will be displayed per barrel, he said, adding that the intra-day margin is Rs 40,000 per unit with an overnight equity of Rs 80,000 per unit. The commission charge will be Rs 1000 and VAT. Similarly, the contract symbol for natural gas is NATURAL GAS and Comen is launching NG/APR/10 contract. According to Comen, the trading unit is 1250 mmBtu and the base price will be displayed per mmBtu.

“The intra-day margin is Rs 30,000 per unit with an overnight equity of Rs 60,000 per unit,” it added. The commission charge will be Rs 1000 and VAT.

“We also remind our customers that these two contracts are subject to cash settlement,” Satyal added.