 "MCX")
Leading commodity bourse MCX on Wednesday said it has received approval from markets regulator Securities and Exchange Board of India (Sebi) for the launch of futures trading in natural rubber.
"Today, we have received Sebi's approval to launch rubber future contracts," a senior MCX official told PTI.
The exchange will launch the rubber futures at the earliest as this product holds special significance for market participants given the huge market size for natural rubber in India in terms of production and imports, the official said.
The official also said rubber futures contracts will be available for compulsory delivery for investors who are keen to trade in rubber quality of 'Ribbed Smoked Sheets4' for a minimum lot size of 1 tonne.
The price to be quoted will be for 100 kg as per the ex-warehouse rates, exclusive of all sales and GST with the delivery centre at Palakkad in Kerala, the official added.
The launch of rubber futures trading will provide a hedging tool for stakeholders in the rubber value chain comprising growers, traders, exporters, importers and end-users like the tier industry.
The MCX is the country's leading commodity exchange that offers futures and option trading in both agri and non-agricultural commodities.
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