MCX Rubber contracts record highest volume

Kolkata, Dec 19 (UNI) Multi Commodity Exchange of India (MCX) registered the highest single-day turnover of Rs 29.31 crore (single-side) in all Rubber contracts on December 15.

In a MCX release here today, the exchange authorities said,''On the same day, the traded volume was recorded at 3,271 tonnes with open interest of 902 tonnes.'' MCX sources said,'' Rubber is a compulsory delivery contract with penal provisions for non-delivery. From January 2007 contracts onwards, penalty on buyer and seller has been increased to 15 per cent from the earlier rate of 5 per cent on seller and 10 per cent on buyer.'' This would provide level playing field for all market participants and increase participation from physical market players, industry sources said.

The exchange has commenced futures trading in Rubber March 2007.

As per the contract specification of Rubber March 2007, the number of additional delivery centres in Kerala has been increased to three which are Calicut, Trichur and Kottayam.

The additional delivery centres are mainly in rubber growing centres of Kerala. With more number of delivery centers, farmers would be able to sell their goods through the MCX platform,'' MCX officials said .

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