<p>Multi Commodity Exchange of India (MCX) is all set to launch the country's first bullion index, Bulldex, on August 24.</p>.<p>"MCX iCOMDEX Bullion Index Futures contracts, expiring September, October and November, will be available for trading with effect from August 24," the commodity exchange said in a circular on Saturday.</p>.<p>The bullion index, Bulldex, being launched by MCX is the sixth product in bullion complex with 1-kg gold, 100-gm goldmini, 8-gm gold guinea and 1-gm gold peta, while the Options on Futures on 1-kg gold is already in place.</p>.<p>The bourse recently launched options on goods in 100-gm goldmini contract.</p>.<p>Having gold and silver as underlying, the Bulldex will have market lot size of 50 and, unlike gold and silver contracts, it will be a cash-settled futures contract, thus making it attractive for hedgers and institutional participants, who are hesitant in taking delivery of gold and silver, a MCX statement said.</p>.<p>As a result, the exchange is likely to get more serious participation in the bullion futures that will add depth to the commodity derivatives market.</p>.<p>Also, the rally since mid-March in gold and silver to record highs is also expected to be beneficial for MCX, which had recently witnessed its daily trade volume rising multi-fold due to higher prices and increased volatility in gold and silver.</p>.<p>MCX had tested bullion index futures trade in mock trading exercises in July.</p>.<p>The exchange also has indices on base metals and energy, which will be launched in a phased manner after regulatory approvals, the statement said.</p>.<p>On May 25, the Commodity and Derivatives Exchange had launched India's first index futures contract called Agridex, which has 10 farm commodities as underlying.</p>
<p>Multi Commodity Exchange of India (MCX) is all set to launch the country's first bullion index, Bulldex, on August 24.</p>.<p>"MCX iCOMDEX Bullion Index Futures contracts, expiring September, October and November, will be available for trading with effect from August 24," the commodity exchange said in a circular on Saturday.</p>.<p>The bullion index, Bulldex, being launched by MCX is the sixth product in bullion complex with 1-kg gold, 100-gm goldmini, 8-gm gold guinea and 1-gm gold peta, while the Options on Futures on 1-kg gold is already in place.</p>.<p>The bourse recently launched options on goods in 100-gm goldmini contract.</p>.<p>Having gold and silver as underlying, the Bulldex will have market lot size of 50 and, unlike gold and silver contracts, it will be a cash-settled futures contract, thus making it attractive for hedgers and institutional participants, who are hesitant in taking delivery of gold and silver, a MCX statement said.</p>.<p>As a result, the exchange is likely to get more serious participation in the bullion futures that will add depth to the commodity derivatives market.</p>.<p>Also, the rally since mid-March in gold and silver to record highs is also expected to be beneficial for MCX, which had recently witnessed its daily trade volume rising multi-fold due to higher prices and increased volatility in gold and silver.</p>.<p>MCX had tested bullion index futures trade in mock trading exercises in July.</p>.<p>The exchange also has indices on base metals and energy, which will be launched in a phased manner after regulatory approvals, the statement said.</p>.<p>On May 25, the Commodity and Derivatives Exchange had launched India's first index futures contract called Agridex, which has 10 farm commodities as underlying.</p>