Brokerage firm HDFC Securities has reaffirmed its ‘Buy’ rating on Multi Commodity Exchange of India (MCX), saying regulatory easing could expand the participant base, broaden product offerings and lower margin requirements.
The brokerage expects FPI participation in deliverable contracts and new bullion and metals index options to drive the next leg of growth, with a potential 20-25% increase in options premium. It also sees structural headroom for volume growth as commodity derivatives remain a small share of equity-market trading.
