AHMEDABAD (Commodity Online): Newly launched Indian Commodities Exchange Ltd (ICEX) today revealed that it may consider launching 10 grams coin for futures trading for its retail investors.

In a telephonic conversation with Commodity Online, Ajit Mittal, Managing Director & Chief Executive Officer of ICEX said, “We are considering launching a retail product under bullion trading, which will be of 10 grams coin. This will target our retail participants. This product will be different from the guinea, which weighs eight grams.”

Get Commodity Trading Tips at lowest rates

The exchange is said to be planning seek forward market commission’s approval after finalizing all formalities attached to it. The exchange, being co-promoted by public sector trading firm, MMTC Ltd, is having an advantage over other players as MMTC is one of the largest gold importers in the country.

“As we have MMTC as our partner, we have an advantage over other exchanges. However, we are in no hurry to increase volumes, rather we aim to focus more on transparency in trading. And aim to serve our members with quality products,” said Mittal adding that the exchange has already touched daily turnover of Rs.1500 crore with lion’s share coming from bullion, metals and energy products.

Post your comment  (0)

Connect:

Post to Twitter

Post to Facebook