Money Maker Research & Investment Advisor: MCX seeks Sebi nod for schemes to boost gold options volume

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Wednesday, 13 December 2017

MCX seeks Sebi nod for schemes to boost gold options volume

MCX, NCDX, Gold, Commodity, Stock, Commodity market advice, Best  commodity tips, Options, Gold Options, Gold Futures
The Multi Commodity Exchange (MCX) has sought approval from the market regulator Sebi for introducing liquidity enhancement schemes for its recently launched gold options contracts.
MCX’s gold options contracts daily average turnover declined to Rs. 130 crore in Nov as against Rs 297 crore in Oct. The daily average turnover of gold futures contracts on the MCX was Rs. 2054 cr, and Rs 2297 in October and November, respectively. 
The ratio of gold options contracts to gold futures contracts slipped to less than 3.5%, by volume, in Dec from over 14% in October. Prior to the launch of the gold options contract, market players were hoping volumes in this section would rise to at least two times those of gold futures contracts. 
The Sebi has particular guidelines for certain volumes in the existing Gold-options contracts before allowing contracts of smaller denominations. As per sources, MCX was likely to engage jewellers and organize awareness programmes to enlarge volumes in gold-options contracts. 

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