NCDEX awaits FMC merger with Sebi to launch weather ETF’s

Aiming to help hedge risks against adverse weather conditions, the National Commodity and Derivatives Exchange (NCDEX) will shortly be launching a set of exchange- traded weather insurance products. As NCDEX is currently being regulated by the Forward Markets Commission (FMC) whose norms don’t allow any such product, it is waiting for the merger of the commodities regulator with the Securities and Exchange Board of India (Sebi) to be completed by September end, before it formally unveils the product.

“We are planning to launch exchange-traded weather insurance products once the merger of FMC with the Sebi is completed,” NCDEX Managing Director and Chief Executive Samir Shah told reporters today on the sidelines of an agriculture insurance seminar organised by Swiss Re here.

The FMC’s merger with Sebi is slated to be completed by September 28.

 

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