India's leading commodity exchange, the Multi Commodity Exchange (MCX) announced the launch of two innovative contracts including Silver 1000.
NEW DELHI(BullionStreet): India's leading commodity exchange, the Multi Commodity Exchange (MCX) announced the launch of two innovative contracts including Silver 1000.
In a statement, MCX said "Silver 1000 is a first of its kind innovative deliverable 1 kg silver contract with New Delhi as the base delivery centre.
With New Delhi being one of the largest consumers of silver in India, this contract will cater to the needs of small jewellers and retail investors, who wish to take physical delivery of 1 kg silver bar in demat or physical form, said the statement.
"With the festive season approaching, Silver 1000 contract is an ideal offering," MCX managing directory and CEO Shreekant Javalgekar said.
Silver 1000 will meet the needs of physical market participants and retail investors. It will enable them to take delivery of 1-kg silver bar at lower margins, compared to the hitherto 30-kg bars,” added Javalgekar.
