MCX, the country’s largest commodity exchange, has announced a daily prize of ₹5,000 for investors who punch in maximum trades in the mock trading of iCOMDEX Bullion and iCOMDEX Base Metal futures that will be open between July 9 and 31.

Consequently, futures trading in underlying constituent of the index will also be conducted. For instance, the indices constituents Gold, Gold Mini, Silver, Silver Mini, Copper, Zinc futures will also be mock traded between July 9 and 30, said the exchange in a statement.

Trades resulting from mock trading will not attract any obligation for pay-in and pay-outs.

The winner will be selected for each index product separately based on their active participation in the mock trading and on various parameters including duration of login, participation in available contract months, spread trading, trading between index and underlying constituents, number of user IDs, said the exchange.

Primarily the objective of the contest is to encourage participation in mock trading and thereby create awareness among the market participants and to make them understand the nuances of trading in the index products.

The exchange will launch MCX iCOMDEX Bullion Index futures and MCX iCOMDEX Base Metals Index futures after the mock trading is completed.

The contest winners for the day will be intimated from time-to-time. The daily contest may be extended depending on the interest of the market participants and will be communicated accordingly, said the exchange.

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