MCX launches futures trading in silver micro

MUMBAI: The Multi Commodity Exchange of India Ltd ( MCX) on Friday launched futures trading in silver micro.

The exchange has launched silver micro April and June 2011 contracts. The trading unit fixed at 1 kg and tick size (minimum price movement) fixed at Re 1 per kg.

The maximum order size will be 600 kg, an official statement said. "Silver micro is an innovative product from MCX, which is targeted as an investment product and a hedging tool," MCX Deputy Managing Director P K Singhal said.