Mumbai, Aug 1 (IANS) Stock exchange major BSE on Wednesday said that its subsidiary BSE Investments Ltd (BSEIL) has acquired a 24 per cent stake in CDSL Commodity Repository Ltd (CCRL).
According to BSE, CCRL will help in transforming commodity markets by creating electronic negotiable warehouse receipts (eNWR), with an aim to develop a robust framework for clearing and settlement of commodity trades.
The CCRL, which is regulated by the Warehouse Development and Regulatory Authority (WDRA), will record the storage and transfers of commodities including warehouse receipt transfers, although deliveries are in physical form.
“It is similar to the way depositories function for equities and other financial securities. A trade repository is another important step forward in improving regulatory transparency in the commodity derivatives markets in India,” the stock exchange major said in a statement.