Shares of Multi Commodity Exchange of India Ltd. (MCX), fell as much as 3.5% on Wednesday, March 18, after the National Stock Exchange (NSE) announced that it has launched Gold 10 gram futures contracts.In an interaction with CNBC-TV18, Sriram Krishnan of NSE said that the one can start trading the futures with a 10% margin and also added that gold coins can also be delivered at home.
Krishnan added that NSE also planned on launching electronic gold receipts, brent crude and natural gas contracts soon. MCX’s highest volumes come from crude and natural gas trading.
NSE’s electricity and WTI crude contracts have been received well, according to Krishnan, who also said that the margin fungibility available at NSE, allows traders to trade in commodities till midnight.Shares of MCX are trading 2.7% lower currently at ₹2,598.2. The stock has risen 11% in the last one month, outperforming the market volatility. The stock is down after two days of gains, during which it gained nearly 7%.
