Page 19 - Bullion World Issue 1 May 2021

Bullion World | Issue 01 | May 2021

stone of systematic of capital with a one-time payment of
investment, electronic premium.
accumulation, quality
assurance and ease Our recent launch of the Indices
of delivery, backed by segment was accepted widely by the
deep and liquid order market. The BULLDEX, an excess
books. returns precious metals index that
Mr Shivanshu Mehta includes gold and silver futures in the
MCX This product captures the imagination of ratio of about two is to one, has seen
a fast-emerging new-age retail clientele, significant turnover and participation
with an evolving view on gold as an from all sections of market participants.
CAN WE EXPECT FURTHER investment asset. It is designed to cater
ADDITION OF DOMESTIC to the organized retail investor demand The BULLDEX fills the need gap of a
REFINERIES TO THE MCX GOOD by providing a Systematic Investment portfolio-based product for investors
DELIVERY LIST? Plan (SIP) type of flexibility. The coins by providing a sectoral exposure for
MCX is in receipt of applications can be held and accumulated in the diversification.
from most leading domestic refiners. electronic holding format, enabled
However, the refiners who meet basic via our COMRIS system. This newly- Mr. Shivanshu Mehta is Head-Bullion at
eligibility criteria will first undergo a designed contract saw successful MCX. He holds the key portfolio of the
precious metals business at India’s No. 1
screening process of a financial as well delivery of about 36.4 kgs (36,438 coins) commodity Exchange, MCX. MCX Gold
as a technical nature, including audits since its launch in October 2019. and Silver derivatives witness a turnover
and their refining and assaying ability. Since each 999-purity coin comes of about 18000 crore per day (FY 2021).
The ones that meet such conditions with an individual assay certificate, He has over 20 years of experience in
to the satisfaction of the MCX Bullion quality assurance is a given. The key commodity markets, specifically non-
ferrous and precious metals.
Refiners Empanelment Committee will be advantages are the convenience of
recommended for addition to the good transaction and the liquidity of the He started his career, being hand-
picked to the Aditya Birla Group –Group
delivery list from time to time. This is Exchange platform. The making charge Management Trainee Scheme (batch of
subject to their meeting the continuous of Rs 100 per coin, being separate 2000); where he spent six years including
compliance requirements on an ongoing from the traded price and being known exposure to cement, sponge iron,
basis. upfront, adds fairness and transparency viscose staple fibre, carbon black and
to the pricing. base metals. He has worked with Grasim
and Hindalco- which is a global name in
WHAT CONTRIBUTION IS BEEN non-ferrous metals; in both Copper and
MADE BY MCX TO FACILITATE THE Similarly, we have launched deliverable Aluminium divisions.
EXPANSION OF THE ORGANIZED silver contracts with silver 1 kg bar as Before MCX, he has also looked after
BULLION SECTOR? the delivery unit. Since their launch in Base Metals at NCDEX.
Apart from the good delivery list February last year, more than 41 tons of Over the years he has enriched market
expansion, MCX has also taken the lead silver bars of one kg have been delivered space with new and innovative products.
in product design innovation to create via these contracts. This, again, is a step To his recent credit is the successful
organised ways to invest in gold and towards creating products for organised launch of the world’s first-ever deliverable
one-gram gold contract- Gold Petal
silver as an asset class. retail demand. futures. This product has seen record
success. Gold Options contracts and
Our recent product innovation, the Our gold options on futures provide retail Silver 1 kg deliverable contract are other
MCX Gold Petal contract, is the world’s jewellers an excellent method to protect recent successes.
first-ever and only deliverable one-gram their margins from the downside price He is known for his strong relationships
with the metals, bullion and jewellery
gold contract. It is built on the corner risk. This instrument creates efficient use industry as also with the financial world.

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