The Multi Commodity Exchange of India Ltd on October 27 launched monthly options contracts on the MCX iCOMDEX Bullion Index. The options contracts on this index will empower market participants with a versatile risk management tool, combining the benefits of diversified underlying assets with the flexibility of options trading, the company said in an exchange filing.
MCX BULLDEX is a dynamic and robust representation of the precious metals segment, constituted of the highly popular and liquid MCX gold and silver futures contracts, the company said.
"MCX BULLDEX, covering both Gold and Silver, offers a balanced exposure in the bullion segment to market participants – both investors and institutions alike, in a convenient and cost-effective manner that would meet both their investment and hedging requirements. Options on MCX BULLDEX aligns with MCX’s commitment to deepen India's commodity markets through product innovation, enhanced transparency, and investor-friendly offerings," said the company.
At 10:10 am on October 27, MCX shares on NSE were trading 2% higher at Rs 9,191 apiece.
On October 27, Nifty Capital Markets index was trading 1.2% higher at 4,671 with Anand Rathi, Motilal Oswal Financial Services, MCX leading the gains.
Praveena Rai, MD & CEO, MCX, said: “The introduction of Options on MCX BULLDEX, marks a pivotal development in India’s commodities ecosystem. This is a unique and innovative product which will enhance the range of products in the commodity derivatives ecosystem and assist market participants to take exposure to a basket of commodities in the bullion segment.”
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
