IPE and NCDEX bullish on co-operative Brent futures

International Petroleum Exchange (IPE) and India's National Commodity and Derivatives Exchange (NCDEX) were last week bullish on their joint venture to offer Indian participants rupee-denominated Brent Crude futures contracts that are priced and settled with reference to IPE's equivalent contract (see FO Week Vol 10 No 36).

The move will challenge Multi Commodity Exchange of India (MCX)'s successful 100 barrel-sized light sweet crude oil futures, which has recently been...