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The Bombay Stock Exchange (BSE) Tuesday announced the availability of the negative price level feature in Exchange Trading System for Commodity Derivatives Segment.
This latest development comes following the recent global developments in the crude oil derivatives markets where trading of derivatives contracts happened at negative prices owing to various underlying factors, said the BSE in a press release.
“It is hereby informed to all Trading Members of Commodity Derivatives segment that Exchange’s BOLT Plus trading system has been modified to accept orders and execute trades at negative prices. Accordingly, existing versions of trading system APIs – ETI as well as IML APIs will also support trading activity at negative price levels,” it said.
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To facilitate testing of this feature in the simulation (test) environment, the exchange said that trading price range of Brent Crude Oil futures contracts will be suitably updated to accept orders at negative price levels and execute trades.
Accordingly, Trading Members and front-end trading application vendors shall be able to place test orders and trade in these contracts at those price levels. This will help members in checking the readiness of their internal systems and make suitable modifications if any required, the BSE noted.
The above-mentioned feature will be made available to members to test from Monday, May 4, 2020, onwards.
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