Market Update

Market Watch

Wednesday, 3 October 2012

MCX News

MCX new futures contracts see increase in volumes:

New Delhi, Sept 28: Two days after the launch of Multi Commodity Ex-change of India's (MCX) new futures contracts—silver 1000 and cotton seed oil cake there has been steady rise in the trade volume of the two commodities.

      On Thursday, the volume of trade with silver 1000 was to the tune of t38 cores. On Friday, cotton seed oil cake saw a trade volume in excess of t17 cores. The two new con- tracts by MCX were launched on Thursday.

       Silver 1000 is a new futures contract with a de-liver able of 1 kg silver With Delhi, one of the largest consumers of silver in the country, as the base delivery centre. This contract will cater to the needs of small jewelers and retail investors who wish to take physical delivery of a 1kg silver bar in demat or physical form.

     "Our contracts have always tried to meet the varied needs of all the  stakeholders of a commodity's value chain. The silver 1000 contract is a unique contract that will go a long way in meeting the needs of physical market participants and retail investors," Shree Kant Javalgekar, MD & CEO, MCX said. 
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