Ace Release Goldhedge

Mumbai, April 1, 2014:Ace Derivatives and Commodity Exchange Limited (“Ace”), a Kotak Mahindra Group anchored commodity exchange in India, today announced that it has commenced trading in GOLDHEDGE futures contract effective today.

Ace has currently launched 3 contracts- expiring in the months of May 2014, July 2014 and September 2014. The price quotation is in Rs. /10 gm and the trading unit for the contract is 1kg. The tick size is Re. 1. GOLDHEDGE is an intention matching contract, and the contract basis center is Ex-Ahmedabad. The price is inclusive of taxes and levies relating to import duty, customs but excluding sales tax/ VAT.

The USP of the Gold Hedge Contract is that the price quotation is inclusive of Import Custom Duty and hence it provides a real opportunity for all the market participants to hedge their price exposure, including that arising from duty flactations

Mr. Dilip Bhatia, CEO, Ace Derivatives and Commodity Exchange Limited said “It has been our constant endeavor to launch contracts that are relevant to the market participants and meet their hedging requirements. Gold hedge futures contract would mirror the prices of gold prevalent in the international market and inclusion of Customs Duty would provide an efficient price risk hedging mechanism for all the market participants. The expiry of Gold Hedge contract is aligned with currency futures expiry which mitigates the currency volatility risk as well.”

About Ace

Ace Derivatives and Commodity Exchange Limited is a screen based online derivatives exchange for commodities anchored by the Kotak Mahindra Group. Ace Commodity Exchange, earlier known as Ahmedabad Commodity Exchange Limited, has been in existence for more than 5 decades in Commodity Derivatives Business, bringing in the best and transparent Business Practices in the commodity space.


For Further Information

Ananthakrishnan S.
Ace Derivatives and Commodity Exchange Ltd
+91 9820473715
Ananthakrishnan.s@aceindia.com