Date:20/06/2008 URL: http://www.thehindu.com/2008/06/20/stories/2008062056321700.htm

Business

MCX to launch futures trading in platinum

MUMBAI: The Multi Commodity Exchange is all set to start futures trading in platinum from Friday. The precious metal would be traded in September and December contracts with Mumbai as the delivery centre. The metal used in catalytic converter in the automobile sector and consumed most in Japan, is costlier than other precious metals. The MCX already trades in gold and silver.

At present, platinum is most traded in overseas commodity markets such as the New York Commodity Exchange and the Tokyo Commodity Exchange in Japan.

The MCX has in-priciple obtained an approval from the from the market regulator, Forward Market Commission recently. — PTI