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MCX considers launching iCOMDEX Bullion Index on Aug 14

Monday, Jul 27, 2020

 

By Kavita Desai

 

MUMBAI– The Multi Commodity Exchange of India is considering launching the iCOMDEX Bullion Index futures on Aug 14, according to a senior official with the bourse.

 

The Securities and Exchange Board of India has allowed the exchange to start trading for futures contracts expiring in August, September and October on the bullion index.

 

On Jun 12, Cogencis had exclusively reported that the regulator had granted approval for the bourse to launch trading in 'iCOMDEX' bullion and base metal indices. The bullion index has gold and silver as its constituents, while the base metals index comprises copper, aluminium, lead, nickel and zinc. 

 

Gold and silver will have weight of 71% and 29%, respectively, on the bullion index.


The regulator has approved the launch of October, November and December contracts on the base metal index. However, the launch date has not been finalised yet, the official said.

 

Zinc will have 33% weight on the index, followed by copper with 30%, nickel 15%, lead 13%, and aluminium 9%.

 

In December, the MCX started the live-streaming of 'iCOMDEX' on its electronic platform. The exchange also has separate indices for crude oil, gold, silver, and copper.  End

 

Edited by Charumathi Sankaran

 

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This copy was first published on the Cogencis WorkStation

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