MCX gets green light to launch heating oil futures

Indian regulatory authority for forwards and futures markets Forward Markets Commission (FMC) gave the go signal for the Multi-Commodity Exchange (MCX) in Mumbai to launch heating oil futures. MCX’s launch is expected to open a window of opportunity for oil companies to hedge refinery margins and end products on MCX. MCX offers futures trading in 55 commodities from various market segments including bullion, energy, ferrous and non-ferrous metals, oils and oil seeds, cereals, pulses, plantations, spices, plastics and fibers. (January 29, 2009)