The National Stock Exchange (NSE) has announced the launch of Brent (Platts) futures contracts in the commodity derivatives segment after receiving Sebi’s approval.
Trading in these contracts will begin on April 13, 2026.According to an NSE circular, the contracts will be offered with monthly expiry extending until 2027. They will be based on S&P Global Energy (Platts) Dated Brent Rating and will trade under the symbol ‘BRCRUDEOIL’.The exchange said the launch aims to expand its commodity derivatives offerings and give market participants a tool linked to a global crude oil standard.
Platts Dated Brent’s assessment tracks global crude oil prices, and the contracts are expected to help improve price discovery and support hedging in line with global markets.Each contract will have a trading unit of 100 barrels, with a maximum of 10,000 barrels. A daily rate limit of 6% will apply initially. If this limit is exceeded, trading will stop for 15 minutes, after which the limit can be expanded to 9%.
“If price movement in international markets exceeds the maximum daily price (currently 9%), or if the international price exceeds the maximum daily price range (after appropriate currency conversion) when compared to the previous day’s closing price on the local stock exchange, the same may be further mitigated in 3% steps beyond the maximum permissible, by giving appropriate notice to the market.”Contracts will be settled in cash. The final settlement price will be based on the simple monthly average of Platts Dated Brent valuations in Rs.The NSE circular states, “The final settlement price shall be the monthly simple average price, in Indian Rupees, of S&P Global Energy (Platts) dated Brent crude oil ratings (midpoint of high and low) for the contract month concerned. The monthly simple average reference rate of RBI USD/INR for the contract month concerned will be used for conversion.”
The price reached will be rounded to the nearest mark.”The move will help Indian market participants access global crude oil benchmarks, improve hedging for refiners, importers and institutional traders, and enhance price discovery by linking domestic markets to global prices, NSE said. Liquidity and participation in this sector are also expected to increase.Further details on risk management, clearing and settlement will be issued separately by NSE Clearing Ltd.
