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MCX to launch structured bullion trading

By Staff

| Published: Saturday, July 28, 2007, 16:45 [IST]

New Delhi, July 28: Multi Commodities Exchange (MCX) today said it will soon start an Electronic Spot Exchange Ltd for providing a structured mechanism for sale or purchase of bullion.

''With around 40-50 centres, the body will provide a structured mechanism without having to worry about price fluctuation and quality,'' said MCX Director Anjani Sinha.

The entity will also be responsible for taking care of the price with the practices of the participants being certified by MCX iteslf.

''This will be an important step in reforming bullion trading in the country,'' he added.

UNI