Gold options trading begins in India

Section:

There's never enough gold derivatives.

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MCX Launches Commodity Options Trading with Gold on Dhanteras

From The Times of India, Mumbai
Monday, October 17, 2017

NEW DELHI -- Finance minister Arun Jaitley today launched an options contract in gold on the Multi Commodity Exchange (MCX) on the auspicious occasion of Dhanteras.

Options are an instrument that give the buyer a right to buy or sell at a present price on a future date. They are of two types: calls (right to buy) and puts (right to sell). According to market experts, options are also a much better hedging instrument as compared to futures for hedgers.

A gold option contract, with 1-kilogram futures as underlying and expiring on November 28, 2017, and January 29, 2018, are made available for trading from today.

Saurabh Chandra, chairman of MCX said: "The launch denotes one of the most significant reform measures since modern commodity derivatives trading started 14 years ago. There has been a very conscious effort by the government and the Securities and Exchange Board of India to develop and integrate commodity markets in a phased manner. We are encouraged by the support and the approach, marked with a great degree of pragmatism. The introduction of options gives a strong impetus toward systematic development and transformation of commodity derivatives market in India, ushering in a new era in price risk management in response to stakeholder expectations." ...

... For the remainder of the report:

https://economictimes.indiatimes.com/markets/stocks/news/mcx-launches-in...



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