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MCX launches futures trading on MCX METLDEX

19 Oct 2020 Evaluate

Multi Commodity Exchange of India (MCX) has launched futures trading on the country’s first tradable real-time Base Metals Index, i.e. MCX iCOMDEX Base Metal (METLDEX).

The exchange has launched METLDEX futures expiring in the months of November 2020, December 2020 and January 2021. Atleast 3 consecutive month contracts will be available at all times. The contract has a lot size equal to 50 times of underlying MCX iCOMDEX Base Metals Index. The tick size (minimum price movement) for the contract is Re 1. The contracts would finally be settled in cash at the end of expiry of each contract. The final settlement price will be based on the Volume Weighted Average Price (VWAP) of the underlying constituents between 4:00 p.m. and 5.00 p.m. on the expiry day of the index futures contract.

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.

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