MCX - A Play On Rising Commodity Prices? ICICI Securities
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MCX - A Play On Rising Commodity Prices? ICICI Securities

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Securities Report

We split the change in Multi Commodity Exchange of India Ltd.’s average daily trading volume (ADTV) in terms of price and volume to determine their respective contribution to the overall ADTV.

MCX witnessed a robust ADTV growth since FY17 led by higher commodity prices in four out of five years.

FY21-to-date has seen a similar trend as change in ADTV was driven by higher commodity prices.

As such, MCX does become a play on rising commodity prices.

Lower margin on crude and monetisation of indices are near-term positives.

Click on the attachment to read the full report:

ICICI Securities MCX Company Update.pdf

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