The feature will be available from May 4
Following the oil price crash in global markets which saw US crude futures plunging into the negative zone, India's domestic bourses have decided to allow trading at negative prices.
In an official release, the Bombay Stock Exchange (BSE) on Tuesday said, "It is hereby informed to all Trading Members of Commodity Derivatives segment that Exchange's BOLT Plus trading system has been modified to accept orders and execute trades at negative prices."
"To facilitate testing of this feature in the simulation (test) environment, trading price range of Brent Crude Oil futures contracts shall be suitably updated to accept orders at negative price levels and execute trades," it added.
The release said that the feature will be enabled for members and vendors to test from 4 May onwards.
Earlier this month, the price of crude in the US went below $0 a barrel for the first time in history, as the supply of fuel has been far above demand since the coronavirus forced billions of people to stop traveling.
