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Gold September 30, 2014 08:00:00 AM

MCX obtains regulatory nod to launch fresh bullion futures contracts

Paul Ploumis
ScrapMonster Author
Multi Commodity Exchange of India Ltd. (MCX)- India's largest commodities exchange has announced launch of fresh futures contracts in bullion

MCX obtains regulatory nod to launch fresh bullion futures contracts

NEW DELHI (Scrap Monster): Multi Commodity Exchange of India Ltd. (MCX)- India’s largest commodities exchange has announced launch of fresh futures contracts in bullion. MCX will also launch similar contracts in base metals and farm commodities with effect from October 1st i.e., tomorrow.

According to a circular issued by the exchange, new contracts for the calendar year 2015 will be launched in gold, silver, aluminium, lead, nickel, zinc, copper, crude oil, crude palm oil, mentha oil, cardamom, cotton and cotton seed oilcake.

MCX has decided to launch gold contract for expiry in February and later months till August of 2015.

The exchange has also announced launch of Silver contracts for expiry in alternate months starting from March 2015 to September 2015. “Silver Mini” contracts will close in alternate months starting from February to August next year.MCX will also offer “Silver Micro” contracts for expiry in February, April and June 2015. “Silver 1000” contracts will close in January and subsequent months till September 2015.

The commodity markets regulator-Forward Markets Commission (FMC) had earlier imposed ban on launch of fresh contracts by the MCX on account of Financial Technologies (FTIL) holding minority stake in the exchange. The regulator permission was given after FTIL sold its 15% stake to Kotak Mahindra Bank. The regulator had declared FTIL as unfit to run the commodity bourse following its linkage with the multi-crore NSEL scam.

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