ICEX launches 30-cent diamond futures
Indian Commodity Exchange (ICEX), the world's first diamond futures trading bourse, has started a 30-cent diamond futures contract. Till now, ICEX's bouquet of offerings included only two contracts -one carat and 50 cents. With the addition of 30 cents, ICEX now serves a larger chunk of the diamond industry in terms of providing direct hedging facilities. Incidentally, since its launch in August last year, the exchange has witnessed delivery of nearly 283 carats of diamonds that are cumulatively worth a little over Rs 8 crore. Last month, the exchange started offering doorstep delivery facility to clients purchasing diamonds on its platform.