MCX to launch trading in three indices

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MCX to launch trading in three indices

Unperturbed by the wild false allegations, the country's largest commodity exchange MCX plans to launch index trading in three of its flagship indices Comdex Composite Index, comdex Bullion and Comdex Base Metal.

PS Reddy, Managing Director, MCX told BusinessLine that the exchange has completed taking feedback from market participants on launching index trading on three of its indices and will be filing with SEBI soon seeking permission. don't trade without any suggestion try mcx free tips from best expert in mcx market adviser.  

"We had discussions with market participants and taken their feedback. We are in the final stage of filing with SEBI for index trading in Comex Composite Index, Comex Bullion and Comex Base Metal. Mcx free tips about commodity market and stock market update daily.

In June, SEBI allowed exchanges to launch trading in commodity futures indices and issued detailed guidelines. The constituents of the composite indices will be individual commodities.

Read more: SEBI allows futures trading in commodity indices

On the alleged whistle blower raising serious issues on MCX operations, Ready said “the so-called whistle blower issue is fake. There is no employee by name Charul Singh named in the letter and the issues raised in the letter are all humbug,” he said. Stock market trading free tips about trade in intraday and positonal call in stock market

"I do not know the motive behind the allegations but the fact is the stock price has crashed and poor retail investors have suffered a loss. These kinds of sensational rumors are given leg-up by certain media houses practicing yellow journalism," he said.

Asked whether five exchanges fighting for market share in a shallow market leading this kind of disruptions, Ready said "I do not want to point finger at anyone but at the same time we will not take it lying down. We have already requested SEBI to investigate the issue and subsequent stock price crash."

Investors have lost ₹ 5,500 crore in market capitalization. "We have consulted our lawyers for the future course of action. Media houses cannot publish anything based on a letter without verifying the authenticity of facts,” he said.

Talking of shallow market, Ready said MCX is working to get more physical market participants on the platform particularly after SEBI made compulsory delivery of commodities on all contract expiry.