India’s Multi Commodity Exchange (MCX) will launch the country’s first gold options contract in September allowing even smaller players in the bullion industry an instrument to hedge their risk, a senior company official told Reuters.
“Somewhere around end September we will launch gold options. We have already conducted mock drills,” Murgank Paranjape, managing director of MCX, said on the sidelines of a conference.
SEBI nod
The Securities and Exchange Board of India has approved the options contract, he said.
“For years the market has been waiting for options. This will give many small jewellers an opportunity to hedge their risk without worrying about daily volatility,” said Prithviraj Kothari, managing director, RiddiSiddhi Bullions Ltd.
