29.01.2009 - FMC allows hedging of refinery margins
From Business-standard.com: Oil marketing companies will be able to hedge their refinery margins (difference in crude oil and finished product prices) and end-products from crude oil as Forward Markets Commission (FMC), the regulatory authority for forwards and futures markets in India, allowed it. After getting the go-ahead from the FMC Multi-Commodity Exchange (MCX) has launched heating oil futures. This will open a window of opportunity for oil companies to hedge refinery margins and end products on MCX. So far, MCX had been providing a platform to oil exploration and marketing companies only to hedge volumes for crude oil..... Full Article: Source