MCX Silver 100 goes live, smallest silver futures lot in India
Yobee Team
A 100-gram silver futures contract goes live
MCX began trading Silver 100, a 100-gram silver futures contract, today. The contract was notified through circular 287/2026 dated 14 May 2026, with six monthly expiries available at the open.
Specs:
- Contract: Silver 100 (100 gram)
- Lot size: 100 grams
- Launch date: 1 June 2026
- Expiries at launch: June, July, August, September, October and November 2026
- Issuing circular: MCX 287/2026
With MCX silver futures trading near ₹2.75 lakh per kilogram, one Silver 100 lot carries a notional of around ₹27,500.
Where it sits in the silver shelf
Silver 100 slots in below the three existing contracts, taking the lot size down by another order of magnitude. Pricing is quoted per kilogram across all four.
| Contract | Lot size | Approx. lot notional (June 2026) |
|---|---|---|
| Silver | 30 kg | ~₹82.6 lakh |
| Silver Mini | 5 kg | ~₹13.8 lakh |
| Silver Micro | 1 kg | ~₹2.75 lakh |
| Silver 100 (new) | 100 g | ~₹27,500 |
What changes from today
Three substantive shifts.
- The smallest tradeable silver unit on an Indian exchange has dropped 10x, from 1 kg to 100 g.
- Six monthly expiries are live from launch, so the Silver 100 term structure exists from day one rather than building over quarters.
- The bullion shelf at MCX now spans Silver 100 at one end and the 30-kg standard contract at the other on a single underlying.
The smallest tradeable silver lot on MCX is now under ₹30,000, on a curve that already stretches out to November.
What members needed on shelf for today's open
Member firms with a commodities desk needed Silver 100 wired into research feeds, order-routing, margin calculators and position-reporting before this morning's open. Symbology and the six expiries flowed from the circular; tick size and pricing convention follow the existing silver template.
Yobee's Publisher is designed to ingest exchange contract masters and dispatch them across member-facing surfaces, to support this onboarding step.
Context, and what's next
MCX has spent FY26 widening its bullion derivatives surface. Bullion average daily turnover in F&O rose 496% year-on-year over the fiscal, options revenue rose 109% to ₹1,398 crore, and the traded client base widened from 13 lakh in FY25 to 20.9 lakh in FY26. Silver delivery for the year stood at 401 MT. The exchange's share price hit a fresh 52-week high after the Q4 release and added another 4.2% on the 14 May Silver 100 announcement.
The data to watch from here is how open interest builds across the six expiries through Q1 FY27, and whether MCX extends the 100-gram template to gold over the second half of FY27.