New Delhi : Universal Commodity Exchange (UCX), which commenced its operations on 19th April 2013, receives an overwhelming response from the market participants for UCX Gold Futures Contracts. The highlight of the settlement for these contracts has been the fact that UCX has facilitated physical delivery of 115 kilograms of gold valuing around Rs. 30.62 Crore on its first expiry (May 2013) since launch.

Speaking on the development UCX Chairman Mr.Ketan Sheth said “For the successful performance of any commodity futures exchange it is vital that it’s trading and delivery mechanism are robust, practical and as per the market requirements. We are encouraged by the rising volumes and the deliveries happening on our exchange. We are progressing steadily and will continue to add more new products for trading as per the market feedback.”

Source : Naresh Sharma