Financials News

MCX to launch gold option on Dhanteras

MCX to launch gold option on Dhanteras

New Delhi: Leading commodity bourse MCX on Tuesday said it will launch option trading in gold on Dhanteras day, October 17.

“This is to inform you that the exchange is targeting to launch trading in Gold Option Contracts with Gold (1Kg) Futures as underlying on October 17,” the exchange said in a BSE filing.

MCX has been conducting mock trading in options since the last week of June. It has also been upgrading its technology to handle increased participation in option trading.

In August, Capital markets regulator Securities and Exchange Board of India (Sebi) had allowed option trading in commodity markets.

Besides MCX, agri-commodity bourse NCDEX (National Commodity & Derivatives Exchange Limited) also has plans to launch option trade and has sought permission for guarseed.

The exchange has not yet announced the date of its launch.

PTI