Photo: Hemant Mishra/MintBy Rajendra JadhavPanaji: India’s Multi Commodity Exchange (MCX) will launch the country’s first gold options contract in September allowing even smaller players in the bullion industry an instrument to hedge their risk, a senior company official told Reuters. “Somewhere around end September we will launch gold options. We have already conducted mock drills,” Murgank Paranjape, managing director of MCX, said on the sidelines of a conference. Harmony Hedge Fund has started trading on the MCX platform and another 35 hedge funds have approached the exchange for admission, Paranjape said. Gold options and entry of hedge funds will increase the exchange’s turnover in the next fiscal year, Paranjape said.

Source: Mint August 12, 2017 05:15 UTC