Commodities & Metal Exchange Nepal Ltd (Comen) has launched new contracts in order to cater to the investment needs of its clients. "We have added new sizes of gold, natural gas, crude oil and zinc," said the Comen. "Besides the existing one-kg and 100-gm gold contracts, we have launched a new gold contract of 500-gm," it said adding that it has also launched a new 1,250 mmBTU natural gas contract along with two new crude oil contracts with the size of 300-barrel and 50-barrel.
"Under zinc, we have launched a new five-tonne zinc contract," said the first state-of-the art exchange in Nepal.
Comen was the only exchange in Nepal to have such investment and technical support from the commodity relevant institutions until some time ago. Currently, there are three commodities exchanges.
Mercantile Exchange Nepal Ltd (Mex) and Nepal Derivative Exchange (NDEX) are the two other exchanges for commodity & futures markets.
These are the platform for the futures that is primarily intended for hedging and speculation. Contracts in futures market result mostly in cash settlement and do not frequently result in delivery.
With the establishment of Mex, new investment sector has been generated where investors can mitigate their risk in different commodities ranging from precious metals, energies to agro-products.
MEX receives guest
KATHMANDU: Deputy Minister for Child Development and Women’s Affairs of Sri Lanka visited Mercantile Exchange Nepal Ltd (Mex) to know about the operational set-up of futures market in Nepal. MLAM Hisbullah, who landed in Nepal on Monday on an official visit, went to the exchange. Hisbullah took time from his busy schedule and met Dipendra Khatiwada, MD and Mr Jitesh Surendran, CEO of Mex to understand the functioning of MEX in Nepal. Hisbullah also visited Nepal Spot Exchange (NSE).
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