Ace Announces Final Settlement Price of May Contracts

Online, May 23, 2011 (Newswire.com) - Ace Announces Final Settlement Price of May Contracts

Mumbai, May 21, 2011: Ace Derivatives and Commodity Exchange Limited, a Kotak Group anchored commodity exchange in India has announced the Final Settlement Price of the below mentioned 5 Future Commodity Contracts which expired on 20th May 2011.
Commodity Price Unit Final Settlement Price (Rs.)
Chana Rs/ Quintal 2384.50
Refined Soy Oil Rs/10 Kgs 636.40
Soy Bean Rs/Qntl 2378.50
Sugar M Rs/ Quintal 2673.00
Mustard Rs/ Quintal 2819.50

The Castor Seed futures contract expired on 13th May, and its Final Settlement Price was fixed at Rs. 4732/ Quintal.

The exchange saw widespread participation across all categories of market participant, and witnessed increase in traded volumes and open interest. The Exchange recorded a highest daily traded value of Rs. 528 Crores and a highest open interest of 1, 24,030 MT till date.

Commenting on the settlement, Dilip Bhatia, CEO, Ace Derivatives and Commodity Exchange said "We are encouraged by the increasing participation and open interest on the exchange platform. The Exchange is being effectively used by all participants as an effective risk management and price discovery mechanism. "

About Ace
Ace Derivatives and Commodity Exchange Limited (www.aceindia.com ) is a screen based online derivatives exchange for commodities anchored by the Kotak Group as a majority stake holder. Ace Commodity Exchange, earlier known as Ahemdabad Commodity Exchange Limited, has been in existence for more than 5 decades in Commodity Derivatives Business, bringing in the best and transparent Business Practices in the commodity space.

Kotak group-the anchor investor in the Exchange has pioneered many business practices existing in the financial services industry over the last 25 years. With Ace, they bring to the market a new, state-of-the-art trading platform which combines the operational efficiency of global exchanges with deep domain expertise in each commodity vertical, be it Agriculture, Bullion, Base Metals or Energy.

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Divya Sirohiya | Akhila Natarajan
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