What is MCX? Know little about it on Watchmcxlive.in!
MCX, Which stands for Multi Commodity Exchange, is a commodity exchange of Mumbai, India. It is an exchange platform where you will find exchange clearance and settlement. Established in 2003, MCX market is an exchange just like BSE and NSE where you trade commodities. It provides commodity traders with a platform for online trading, settling and clearing futures transactions, energy, agricultural commodities, non-ferrous metals therefore providing a platform to help them manage their risks. Reported in year 2017, Having the turnover of 76.28 trillion rupees MCX is India's largest commodity futures exchange. MCX live trading was established under FMC regulatory framework, which was later merged with SEBI, meaning that MCX now falls under SEBI regulatory preview.
MCX trading opens from 10:00 A.M. to 11:30 P.M on Monday to Friday IST(GMT +5:30) & 10:00 A.M. to 02:00 P.M. on Saturdays. With the daily live MCX update you will be able to collect spot prices from polling, info vendors, and international markets. Than you should compute average of the polled prices after you remove the outliers. Calculate and generate DDR consistent with contract specification. Finally, broadcast a final price on the Traders' Workstation.
MCX Prices are obtained from specific basis centers by capturing price quotations from several market participants, and than the entire value chain relating to a number of levels viz. grander, miller, importers, auctioneer, traders, farmer etc. The prices are than circulated after outliers are eliminated. You will finally use the spot price to settle the derivative contracts on MCX trading when the contract expires. If you want to trade in India, MCX market will provide you with a trading workstation where you can easily place and execute orders on commodities.
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