MCX to start base metals futures indices from today. All you need to know

Multi Commodity Exchange (MCX) will formally launch its base metallic futures indices, MCX iComdex base metals index futures, from Monday. The nation’s largest commodities trade had obtained an approval for the indices from the Securities and Exchange Board of India (Sebi) on June 29 and had begun mock buying and selling on July 31.

Here’s is all it’s essential to know concerning the new base metallic futures indices:

1. Metals being traded on its platform are gold, gold mini, silver, silver mini, copper, zinc, lead and nickel.

2. The base metals futures contracts expiring in November and December 2020 and January 2021 will probably be accessible for buying and selling from Monday, MCX had stated in September.

3. The contracts for additional expiries will probably be launched in response to the enclosed contract launch calendar, it stated.

4. It had stated that the contract specs and buying and selling parameters of the contracts shall be binding on all of the members and constituents buying and selling by way of them and that the settlement of the contracts will probably be carried out by way of the MCX Clearing Corporation as detailed on August 17.

5. MCX had stated that every contract will begin on the 15th day of contract launch month and buying and selling will happen Mondays by way of Fridays from 9am to 11:30/11:55pm.

6. Before this, MCX was buying and selling on bullion index, Bulldex, from August 24 making it the nation’s first such index on underlying bullion futures contracts, expiring in September, October and November.

7. The Bulldex is the sixth product in bullion advanced with 1-kg gold, 100-gm goldmini, 8-gm gold guinea and 1-gm gold peta, whereas the Options on Futures on 1-kg gold is already in place. It had lately additionally launched choices on items in 100-gm goldmini contracts.

8. MCX had examined bullion index futures commerce in mock buying and selling workout routines in July.

9. The Commodity and Derivatives Exchange had on May 25 launched the primary index futures contract referred to as Agridex, which has 10 farm commodities as underlying.

10. MCX had additionally stated then that it was planning to launch recycled base metals supply in a while.