MCX delivers under aluminium futures contract

Multi Commodity Exchange of India Ltd. (MCX), exchange in the commodity derivatives segment, crossed another milestone with the first-ever delivery of its Aluminium futures contract. A successful pay-in and pay-out of the contract concluded on Tuesday for a quantity of 10 MT (2 lots). The contract was settled with no delivery defaults. The delivery was given by Indu Corporation Ltd., through IIFL Wealth Management ltd, while the buyer was Phoenix Industries Pvt Ltd who worked via Motilal Oswal Financial Services Ltd (MOFSL). The metal, which conforms to MCX's quality parameters i.e. LME approved brand of 99.97% purity ingot, was delivered at the MCX approved warehouse at Bhiwandi, district Thane. The delivery was effected through MCXCCL's Electronic Commodity Receipts Information System, ComRIS.

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