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World's first brass futures contracts
March 24 , 2018
2232 days
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- The country’s largest commodity exchange platform Multi Commodity Exchange of India (MCX) has launched futures trading in brass for the first time globally, which will facilitate brass stakeholders to hedge their price risk.
- It will provide its stakeholders with more organised and robust price discovery platform.
- MCX Brass futures is the first non-ferrous contract with compulsory delivery option.
- The price is quoted as per the ex-warehouse Jamnagar (delivery centre) inclusive of taxes and duties, excluding GST.
- MCX was launched in November 2003 and operates within regulatory framework of Forward Contracts Regulation Act, 1952 (FCRA, 1952) under SEBI.
- MCX is country’s first listed commodity futures exchange that facilitates online trading, and clearing and settlement of commodity futures transactions, thereby providing platform for risk management.
- Globally, MCX ranks no. 1 in silver, no. 2 in natural gas, no. 3 in crude oil and gold in futures trading.
- MCX offers futures trading in bullion, ferrous and non-ferrous metals, energy, and a number of agricultural commodities
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