India’s leading stock exchanges BSE and NSE have received the securities market regulator SEBI’s approval to offer platforms for commodity derivatives trade from October 1, 2018.

The exchanges would begin trading in commodity derivatives with non-agriculture commodities, followed by agriculture commodities, statements from both bourses said on Wednesday.

Trading in the commodity derivatives segment on the exchange would have benefits such as “efficient price discovery” and “reduction in timelines”, among others, the BSE said.

The National Stock Exchange said this would achieve “integration of trading in commodity derivatives market with other segments of the securities market at the exchange level”.

The Securities and Exchange Board of India (SEBI) had on December 28, 2017 announced that from October 2018, the country would have a unified exchange regime wherein stock exchanges would be allowed to offer trading in commodities derivatives.