The MCX iCOMDEX Bullion Index future contracts expiring in the months of September, October and November 2020 are made available for trading from today.
The contract has a lot size equal to 50 times of underlying MCX iCOMDEX Bullion Index. The tick size (minimum price movement) for the contract is Re. 1. The contracts would be finally settled in cash at the expiry of each of the contract.
The final settlement price will be the underlying index price arrived at based on Volume Weighted Average Price (VWAP) of the constituents of the underlying index between 4.00 p.m. and 5.00 p.m. on the expiry day of the index futures contract.
The sectoral index tracks the real-time performance of the Gold (1kg) and Silver (30kg) futures contracts, the flagship future products on the Exchange. At present, it carries around 70.52% weight for gold and 29.48% for silver. The weights are rebalanced annually, every January.
The Exchange has waived the transaction fee for a period of first three months.
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