MCX launches two new future contracts
Mumbai, Mar 25: Multi Commodity Exchange (MCX) of India Ltd has decided to launch two new future contracts in poly vinyl chloride (PVC) and zinc with effect from March 27, thereby increasing the basket of non-ferrous metals and polymer segments which are running successfully on MCX platform.
MCX has entrered into an exclusive licensing agreement with the London Metal Exchange (LME), the leading exchange in world in respect of non ferrous metals, which allows MCX to use the LME price as the basis for setting specified MCX futures contracts.
At present, in the non-ferrous metal group, MCX conducts futures trading in aluminium, nickel, copper and tin, and from March 27, zinc will also be made available, according to a release by MCX.
Zinc is one of the most volatile commodities in non-ferrous metal basket. MCX has thought it expedient to launch future trading in this commodity, so as to help the local traders and industry to hedge their price risk in zinc, the release added.