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India's MCX to launch heating oil futures
MUMBAI (Reuters) - India's Multi-Commodity Exchange (MCX) will launch heating oil futures from Tuesday, its chief executive Joseph Massey said on Sunday.
"MCX has got permission from the regulator ... and will launch heating oil futures from Jan. 27," Massey told Reuters. "There will be monthly contracts with Mumbai as a delivery centre."
MCX is successfully running crude oil and natural gas futures, though trade in aviation turbine fuel and electricity futures launched by the exchange in the past six months is yet to gather volume.
MCX controls about 75 percent of India's commodity futures trade and is part-owned by NYSE Euronext and Fid Fund (Mauritius) Ltd, an affiliate of Fidelity International.
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