The Indian Commodity Exchange, anchored by Anil Dhirubhai Ambani Group, has delivered 26.27 carats of diamonds worth ₹83 lakh as settlement on the expiry of its first diamond contract.
About 1,440 clients participated in the delivery process of the November contract as the exchange fixed ₹3,166 as price for one cent of diamond on due date.
The three-day average of November futures closing price was ₹3,168.33 per one cent, indicating a convergence between spot and futures price, said the exchange in a statement on Wednesday.
The exchange has about 40 carats of diamonds at its vaults. ICEX had commenced operations on August 28 with the launch of November, December and January diamond futures contracts.
Sanjit Prasad, Managing Director, ICEX, said alignment of spot and futures price during the delivery period is one of the important features of derivatives market.
The total traded quantity in November expiry since the launch of the contracts stood at 5,382.08 carats worth ₹173 crore. Percentage of delivery against the total traded quantity was 0.53 per cent.