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METLDEX basic details (One Pager) :

#METLDEX INDEX Futures

Given below is Basic details of MCX Base metals index Future contract:

Segment: FUTIDX

Symbol : MCXMETLDEX

Trading Unit (lot size) : 50 times index value.

Margin value: 48,000 (Approx.) Or based on VaR.

Margin % : 6% Approx. Or based on VaR.

Price quotation: Index points.

Market lot: 50

Tick size: 1

Profit/ loss per one rupee change : 50.

Expiry : Monthly

Settlement: Cash settlement ( No delivery).

Index Weightage : Zinc (33%), Copper (30%), Nickel (15%), Lead (13%) and Aluminium (9% ).(~round off).

Index value : 12000 (Approx).

Contract value: 6,00,000 Approx. (12000*50)

Benefits:

1) No transaction charges upto January 2021.

2) Smaller contract size. (Similar to earlier Mini version).

3) Cash settlement. (Similar to earlier Mini contract).

4) 5 in 1 contract. 5 metals in 1 index.

5) Arbitrage opportunity between underlying and index. (Similar to earlier Mini and Mega spread)