What are the contract specifications for crude oil trading on MCX?
there are specific contract specifications for crude oil trading on MCX. Let’s dive into the details.
Contract Specifications for Crude Oil Trading on MCX
Before delving into the contract specifications, it’s important to understand what MCX is and its significance in the trading world. MCX, or Multi Commodity Exchange of India, is the largest commodity derivatives exchange in India. It offers a platform for trading various commodities, including crude oil.
1. Crude Oil Contract Symbol
The contract symbol for crude oil on MCX is CRUDEOIL. It is used to identify and trade crude oil contracts on the exchange platform. Traders and investors can place orders using this symbol to participate in crude oil trading.
2. Contract Size
The contract size for crude oil trading on MCX is 100 barrels. Each contract represents the obligation to deliver or take delivery of 100 barrels of crude oil.
3. Price Quote and Fluctuation
The price quote for crude oil contracts on MCX is in Indian Rupees per barrel. The minimum price fluctuation, or tick size, is Rs 1 per barrel. This means that the price can move up or down in increments of Rs 1.
4. Trading Timings
The trading timings for crude oil contracts on MCX are as follows:
- Normal Market: Monday to Saturday from 9:00 am to 11:30 pm
- Extended Market: Monday to Saturday from 4:00 pm to 5:00 pm
By Astrobulls research pvt ltd