MCX is all set to launch the country’s first bullion index, Bulldex, on August 24.

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Multi Commodity Trade of India (MCX) is all set to launch the nation’s first bullion index, Bulldex, on August 24. MCX iCOMDEX Bullion Index Futures contracts, expiring September, October, and November, can be obtainable for buying and selling with impact from August 24, the commodity change mentioned in around on Saturday.
The bullion index, Bulldex, being launched by MCX is the sixth product in bullion complicated with 1-kg gold, 100-gm gold mini, 8-gm gold guinea, and 1-gm gold peta, whereas the Choices on Futures on 1-kg gold is already in place. The bourse lately launched choices on items in 100-gm gold mini contract. Having gold and silver as underlying, the Bulldex can have market lot measurement of 50 and, in contrast to gold and silver contracts, it is going to be a cash-settled futures contract, thus making it engaging for hedgers and institutional members, who’re hesitant in taking supply of gold and silver in MCX statement mentioned
Consequently, change is more likely to get extra severe participation within the bullion futures that may add depth to the commodity derivatives market.
Additionally, the rally since mid-March in gold and silver to file highs can also be anticipated to be useful for MCX, which had lately witnessed its everyday commerce quantity rising multi-fold as a consequence of larger costs and elevated volatility in gold and silver.
MCX had examined bullion index futures commerce in mock buying and selling workouts in July.
The change additionally has indices on base metals and power, which can be launched in the phased method after regulatory approvals, the assertion mentioned.
On Might 25, the Commodity and Derivatives Trade had launched India’s first index futures contract referred to as Agridex, which has 10  farm commodities as underlying.

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