COIMBATORE: Multi Commodity Exchange of India (MCX), the rustic’s biggest commodity derivatives trade, witnessed report turnover and volume of Rs 2,021 crore and 6443 kilograms (kg) respectively on May 29 in its gold choices contract.
“This indicates the increasing acceptance of gold choices among market individuals. The physical individuals from bullion and jewelry section had been observed the use of choices as a hedging device in addition to the futures contracts,” MCX stated.
The earlier report turnover was Rs 1,560 crore completed on October 17, 2017—the day the first choices contract on gold futures was introduced via the trade. The gold ‘European-style’ possibility is based on the underlying MCX gold futures contract (1 kg).
“With an purpose to inspire wider participation via growing lasting and self-sustaining liquidity and intensity in the gold choices contract, MCX introduced ‘Liquidity Enhancement Scheme (LES)’, a new hedging software, efficient from April 24, 2018,” the trade said.
The open hobby in gold choices touched a report prime of two,553 kg on May 24, 2018. At expiry of May 2018 possibility collection contracts, there were 1,254 kg of open positions. The total notional turnover of choices all the way through the above length was Rs 16,251 crore (51,777 kg) with a top rate turnover of Rs 89 crore. The July 2018 contract witnessed open hobby of 642 kg on May 29, 2018. Recently, MCX also introduced choices buying and selling in crude oil (100 barrel), copper (1 metric tonne) and silver (30 kgs).
“This indicates the increasing acceptance of gold choices among market individuals. The physical individuals from bullion and jewelry section had been observed the use of choices as a hedging device in addition to the futures contracts,” MCX stated.
The earlier report turnover was Rs 1,560 crore completed on October 17, 2017—the day the first choices contract on gold futures was introduced via the trade. The gold ‘European-style’ possibility is based on the underlying MCX gold futures contract (1 kg).
“With an purpose to inspire wider participation via growing lasting and self-sustaining liquidity and intensity in the gold choices contract, MCX introduced ‘Liquidity Enhancement Scheme (LES)’, a new hedging software, efficient from April 24, 2018,” the trade said.
The open hobby in gold choices touched a report prime of two,553 kg on May 24, 2018. At expiry of May 2018 possibility collection contracts, there were 1,254 kg of open positions. The total notional turnover of choices all the way through the above length was Rs 16,251 crore (51,777 kg) with a top rate turnover of Rs 89 crore. The July 2018 contract witnessed open hobby of 642 kg on May 29, 2018. Recently, MCX also introduced choices buying and selling in crude oil (100 barrel), copper (1 metric tonne) and silver (30 kgs).
Gold options contract registers record turnover on MCX
![Gold options contract registers record turnover on MCX]()
Reviewed by Kailash
on
May 31, 2018
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