Multi Commodity Exchange of India (MCX) will commence futures trading in brass on March 26, 2018, marking the first time that a Brass Futures contract will be traded on an organised exchange anywhere in the world. Brass futures will not only provide its stakeholders with a more organised and robust price discovery platform, but will also help them to use a national level benchmark price as a ready reference to enable them to mitigate their price risk.
Three contracts ending in April, May and June 2018 will be available for trading. The lot size of the contract is 1 MT (metric tonne). Significantly, MCX Brass futures is the first non-ferrous contract with compulsory delivery option. The price is quoted ex-warehouse Jamnagar (basis centre) inclusive of taxes and duties, excluding GST. The ingots and billets are of IS-319 grade.
MCX, the leading commodity bourse, largely offers futures trading in non-agricultural commodities. The exchange contributes maximum business to the total turnover of the commodity futures market.
| Company Name | CMP |
|---|---|
| Motilal Oswal Fin | 815.95 |
| Angel One | 323.35 |
| IIFL Capital Service | 313.40 |
| Nuvama Wealth | 1403.20 |
| Share India Sec. | 147.05 |
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