Commodity bourse MCX will provide exit options to market participants in crude oil all other commodity derivatives if the contracts hit negative prices, the exchange said in a circular Monday.
The exit will not be on expiry day when a due date rate is published, but on all other trading days if clients through their brokers or prop traders chose to square off their positions.
The exit will be enabled through an auction that will be held in a 15-minute window after market closing, currently 11:30 pm, from 11:40-11:55 pm.
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