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MCX Says Confident Of Maintaining Liquidity Despite Lull In Agri Contracts

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MCX India Ltd., the country’s largest commodity exchange, said it is confident of maintaining liquidity in existing contracts despite agri-commodities remaining subdued.

The exchange recently launched non-agri commodities options for silver, copper, zinc and crude oil after launching gold contracts back in October.

In order to boost volumes in this segment, the Securities and Exchange Board of India allowed market making in commodity options. “We have seen good increase in the bullion contracts,” Mrugank Paranjape, managing director and chief executive officer, MCX told BloombergQuint in an interview. “The crude contracts are already clocking over Rs 200 crore regularly.”

He said there no immediately plans to enter any equities, debt or interest rate derivatives as of now. He also assured that the exchange has found a solution to the recent technical glitch that caused the bourse to halt trading twice in a day. “We are confident it [glitch] will not repeat again.”

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