Multi Commodity Exchange of India will launch\u00a0first options contract with\u00a0favourite precious metal gold on the day of Dhanteras that is on October 17. "This is to inform you that the exchange is targeting to launch trading in gold option contracts with gold (1kg) futures as underlying on October 17," the exchange said in a BSE filing on Tuesday. MCX had been conducting mock trading in options since the last week of June. It has also been upgrading its technology to handle increased participation in options trading. MCX in an interview with ET Now said that the commodity exchange is targeting to launch gold auction during the festival season as it will be\u00a0a "game changer". The MCX further said that the gold auction, as recommended by a standing committee of the government, should be introduced as it is in the interest of the farmers and other stakeholders. MCX informed that it will launch the first options\u00a0contract with gold under non-agri category and said all the stakeholders -\u00a0importers, exporters, jewellers, consumers - were on board with the plan. MCX also said that the number of participants is also more than a lakh. In August, the Securities and Exchange Board of India (SEBI) had allowed options trading in commodity markets. Besides MCX, agri-commodity bourse NCDEX (National Commodity & Derivatives Exchange Ltd) also has plans to launch options trade and has sought permission for guaranteed, PTI reported. MCX MD and CEO Mrugank M Paranjape, in two separate\u00a0TV interviews, had earlier said that after the first launch, the market would like to watch for a couple of months which could be anywhere between 3 to 6 months as SEBI already has the norms for what should be allowed.\u00a0 Amongst the six to seven more contracts are there which will qualify for options contract and once SEBI is in position to allow more, the exchange will aim for the next four or five, he added. He said that the options which currently qualifies are of silver, crude, natural gas, zinc, and some in the agricultural sector. The cotton and CPO (crude palm oil) contract both will qualify and have very-very deep participation and the exchange would definitely look at those as well when it comes to the next round, he added further.