The Multi Commodity Exchange of India (MCX) has launched futures trading on the country’s first tradeable real-time bullion index, MCX iCOMDEX Bullion. The MCX iCOMDEX Bullion Index future contracts expiring in the months of September, October and November 2020 are made available for trading from August 24, 2020. The contract has a lot size equal to 50 times of underlying MCX iCOMDEX Bullion Index. The tick size (minimum price movement) for the contract is Re 1. The contracts would be finally settled in cash at the expiry of each of the contract. The Exchange has waived the transaction fee for a period of first three months.
The product will help market participants to optimize their asset allocation through portfolio diversification due to its low correlation to equity. The real-time index values will also act as perfect benchmark that can be replicated with low tracking error for passive investment strategies and help in managing portfolios efficiency.
MCX, the leading commodity bourse, largely offers futures trading in nonagricultural 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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