MCX to launch futures trading in platinum on Friday
Country's largest commodity bourse the Multi Commodity Exchange is all set to start futures trading in platinum from tomorrow.
By PTI |
MUMBAI: Country's largest commodity bourse the Multi Commodity Exchange is all set to start futures trading in platinum from tomorrow.
The commodity exchange would commencing trading in platinum from Friday, the exchange said today in a statement.
The precious metal would be traded in September and December contracts with Mumbai as the delivery center, it said.
The metal used in catalytic converter in automobile sector and consumed most in Japan, is costlier than other precious metals.
The MCX already trades in gold and silver. At present, platinum is most traded in overseas commodity markets such as New York Commodity Exchange and Tokyo Commodity Exchange in Japan.
The MCX has in-priciple obtained an approval from the from the market regulator, Forward Market Commission recently.
Meanwhile, the MCX planning to including Aviation Turbine Fuel (ATF) futures in next two weeks. PTI SUN RS
The commodity exchange would commencing trading in platinum from Friday, the exchange said today in a statement.
The precious metal would be traded in September and December contracts with Mumbai as the delivery center, it said.
The metal used in catalytic converter in automobile sector and consumed most in Japan, is costlier than other precious metals.
The MCX already trades in gold and silver. At present, platinum is most traded in overseas commodity markets such as New York Commodity Exchange and Tokyo Commodity Exchange in Japan.
The MCX has in-priciple obtained an approval from the from the market regulator, Forward Market Commission recently.
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Meanwhile, the MCX planning to including Aviation Turbine Fuel (ATF) futures in next two weeks. PTI SUN RS
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