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MCX delivers first rubber futures contract

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MCX said that it has delivered 106 tonnes of natural rubber through its rubber futures contract on Wednesday. The commodity was delivered at Palakkad in Kerala.

MCX rubber futures was launched on December 28 last year and has seen a rise in open interest from its inception. The combined open interest on day one was 18 tonnes and has seen a steady increase to 106 tonnes, the company said in a release.

“The MCX rubber futures contract has seen steady growth since its launch and has been well accepted by market participants. We will continue our efforts to grow this contract, which provides price discovery, price risk management and a robust delivery mechanism to market participants”, said Rishi Nathany, Head – Business Development and Marketing.

Currently, four contracts of rubber futures viz. January, February, March and April are made available for trading. The futures contract enables market participants to trade in RSS 4 quality for a minimum lot size of one tonne.

This article is auto-generated by Algorithm Source: www.thehindubusinessline.com

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