Multi Commodity Exchange of India (MCX) will launch India’s first bullion index named “Bulldex”, on August 24, 2020. Bullions, viz. gold and silver are already being traded as individual commodities on the country’s premier commodity exchange. With gold and silver as underlying, Bulldex will have a market lot size of 50 and be cash-settled futures contract. MCX had tested bullion index futures trade in mock trading exercises in July.
Multi Commodity Exchange of India Ltd is an independent commodity exchange based in India. It was established in 2003 and is based in Mumbai. It is India’s largest commodity derivatives exchange.