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BÉT to offer gold contracts

The Budapest Stock Exchange (BÉT) plans to start trading futures contracts in gold in the second half of April, business daily Világgazdaság said.

The exchange plans delivery trading with 1-kilogram contracts quoted in dollars and maturing in June and December, the paper said, citing Attila Tóth, head of the exchange's business development department. The transactions will be settled in forints, the newspaper said. Budapest would be the third market in Europe to offer futures contracts in gold after London and Istanbul. The BÉT is in talks with trading companies to provide sufficient trading volume in the planned gold contracts, the newspaper added.