MCX, the country’s largest commodity exchange, has recorded a turnover ₹1.33 crore in the first half of its debut trading session on Monday. The exchange traded 83 lots.
Making further inroads into agriculture commodity futures trading, the metal and energy-focused MCX launched rubber futures on demand from physical participants including small and mid-size producers, consumers and large physical side corporate houses. Acumen Capital Market Ltd logged in the first trade in MCX rubber contact.
Low contract value and margin requirements will be helpful for retail investors and hedgers alike. Domestic rubber futures will be influenced by domestic factors and international prices on Tokyo Commodity Exchange, Shanghai Futures Exchange and Singapore Commodity Exchange.
Being the sixth largest producer, rubber futures is expected to draw trading interest across segment.
With 80 per cent of the rubber produced in Kerala, price discovery and liquidity will remain strong helping industrial producers such as tyre companies, importers, dealers to hedge and manage risk, said Giby Mathew, Director, Acumen Capital.