To be called MCX iComdex base metals index futures, the new indices will start trading from October 19, the bourse said in a statement.
The exchange got Sebi approval on June 29, 2020, and it began mock trading on July 31.
The base metals being traded on its platform are gold, gold mini, silver, silver mini, copper, zinc, lead and nickel.
The base metals future contracts expiring in November and December 2020 and January 2021 will be available for trading from October 19, the exchange added.
The contracts for further expiries will be launched according to the enclosed contract launch calendar, it said, adding the contract specifications and trading parameters of the contracts shall be binding on all the members and constituents trading through them and that the settlement of the contracts will be carried out through the MCX Clearing Corporation as detailed on August 17.
The exchange said each contract will start on the 15th day of contract launch month and trading will take place Mondays through Fridays from 9 am to 11:30/11:55 pm.
From August 24, MCX was trading on bullion index, Bulldex, making it the country’s first such index on underlying bullion futures contracts, expiring in September, October and November.
The Bulldex is the sixth product in bullion complex with 1-kg gold, 100-gm goldmini, 8-gm gold guinea and 1-gm gold peta, while the Options on Futures on 1-kg gold is already in place. It had recently also launched options on goods in 100-gm goldmini contracts.
As a result, exchange is likely to get more serious participation in the bullion futures that would add depth to the commodity derivatives market.
MCX had tested bullion index futures trade in mock trading exercises in July.
On May 25, the Commodity and Derivatives Exchange had launched the first index futures contract called Agridex, which has 10 farm commodities as underlying.
MCX had also said it was planning to launch recycled base metals delivery in some time.