MCX launched the Base Metal Futures Index, the first real time tradable base metal Index in the country.

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PS Reddy, MD & CEO told CNBC-TV18, “We have got good feedback from the entire industry, especially the manufacturing industry about the launch of this product. It is cash settled contract, and it accounts for all the base metals which are important in most of the manufacturing activity. So keeping that in view, many hedgers and other traders said that it is an excellent contract and I am sure it will be a successful one.”

Reddy said MCX was aiming for a presence in agri commodities as well. It has applied to SEBI for trading in rubber and potato futures. It was also waiting for the electricity futures regulatory framework to be in place.

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