Following Suit
MCX announces launch of cotton seed wash oil futures contracts from Tuesday
This story was originally published at 17:45 IST on 11 October 2024
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MUMBAI – The Multi Commodity Exchange of India has announced the launch of trading in futures contracts in cotton seed wash oil from Tuesday. Initially, the contracts for November, December and January will be available for trading, MCX said in a circular Friday. These contracts will be cash settled, it said.
The trading unit in the futures contracts for cotton seed wash oil will be five tonnes, with quotations in rupees per 10 kg and a maximum order size of 400 tonnes, the circular said. The maximum open position is allowed at 12,000 tonnes for individual clients. For members, the limit is 120,000 tonnes collectively for all clients, or 15% of the market-wide open position, whichever is higher, the exchange said. The delivery centre will be Kadi in Gujarat.
The National Commodity and Derivatives Exchange had started trading in cotton wash oil futures contracts on Sept. 2. End
Reported by Abhijit Doshi
Edited by Saji George Titus
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