Leading the commodity exchange MCX said Wednesday that six futures trading contracts of gold and silver with maturity in 2015 stopped, due to procedural problems. And this will effective yesterday on 1 May 2014.
Forward Markets Commission (FMC) is another played hardball with MCX and ordered MCX to discontinues gold, silver contracts expiring 2015 along with cotton futures.
According to sources, these futures MCX was launched without the Commission permission. Also in Gold February 2015, Cotton March and April 2015 deal to end immediately ordered the FMC.
The Exchange withdrew gold contracts expiring in April 2015 and three “Silver 1000” contracts each set expiring in January, February and March next year.
MCX stopped a contract “Silver Mini” and contract “Silver” that were to expire in February and March next year, starting April 29.
However, MCX clarified that the contract will be launched again after to complete the started process. Gold – Silver and cotton futures also traded in the years ahead. But before you can restore Exchange shareholding pattern, FMC’s permission is required before launching the new contract.
Source By PTI News