MCX new futures contracts see increase in volumes

Written by fe Bureau | New Delhi | Updated: Sep 29 2012, 07:29am hrs
Two days after the launch of Multi Commodity Exchange of Indias (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 R38 crore. On Friday, cotton seed oil cake saw a trade volume in excess of R17 crore. The two new contracts by MCX were launched on Thursday.

Silver 1000 is a new futures contract with a deliverable 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 jewellers 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 commoditys 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, Shreekant Javalgekar, MD & CEO, MCX said.