Merill Lynch launches new commodities index
Merrill Lynch has launched a commodities index designed to provide investors with a benchmark in the global commodities markets.
The Merrill Lynch Commodity index eXtra (MLCX) is a rules-based index where commodity futures contracts are initially selected by liquidity and then weighted by the importance of each commodity in the global economy, with a particular emphasis made on downstream commodities.
Different to other commodity indices, the MLCX has a semi-continuous contract rolling mechanism
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