New Delhi, April 24 -- The Multi Commodity Exchange of India (MCX) has proposed launching weekly index options for its bullion derivative index, the MCX Bulldex, according to two people familiar with the matter. The proposal is currently in the early stages of discussion within a regulatory committee, they added.

"The matter is being discussed in the commodity derivatives advisory committee (CDAC) of Sebi (Securities and Exchange Board of India) but no decision has been taken yet. Weekly options pose a risk in commodities and may hurt retail investors, so this will be discussed thoroughly," said the first person cited above.

"MCX has to ensure that the weekly index options do not just bring in temporary volume to the exchange but have b...