Sun May 06 2012
India's commodity markets
regulator has asked the Multi Commodity Exchange (MCX) to increase the maximum
positions that can be taken at an individual or member level for new gold
contracts, without giving any reason. The Forward Markets Commission (FMC)
wants to hike the allowable position for an individual client to 2.5 metric tons
from 2 tons, and increase the member position limit to 12.5 metric tons or 15
percent of market wide open positions, whichever is higher, from 6 metric tons.
"You (the MCX) are requested to launch bullion contracts as per the contract launch calendar and post the details of the approved contracts immediately," said the FMC in a statement posted on its website. The MCX will launch its new gold February 2013 contract in early June, while the exchange has started trade in August gold mini contract on May 7 with new specifications.
Source: brecorder.com