India MCX bourse to trade aviation fuel futures July 7

MUMBAI, July 5 (Reuters) - India's Multi-Commodity Exchange (MCX) will launch aviation turbine fuel futures from July 7, the bourse said in a press statement on Saturday.

Contracts for July, August, September, October, November and December contracts will begin trading on the exchange from Monday, MCX said.

Contracts will be traded in 100 barrel units from Monday through Saturday. The daily maximum price limit is 4 percent on either side, with an initial margin of 5 percent.

The upper limit for open positions will be capped at 600,000 barrels for individual clients, while for members it is 3 million barrels, or 15 percent of the open market position, whichever is higher.

Mumbai will be the delivery center for these contracts, the statement added.

MCX is India's biggest commodity bourse by trade turnover accounting for about 75 percent of the total trade in 22 commodity bourses. (Reporting by Sourav Mishra, Editing by Peter Blackburn)