exchange is geared to offer trading in over 200-plus
commodities including an expansive list across bullion,
agro commodities, non-ferrous metals, oil, weather,
energy, petro, soft commodities and milk products. The
notification to this effect is issued by the ministry
of consumer affairs, food and public distribution (department
of consumer affairs), Government of India.
MCX managing director Jignesh Shah: "MCX is among
the first two exchanges in the country to have received
permanent recognition to commence live trading operations,
and is first among all 'in-principal' approved nationwide
multi-commodity exchanges which were given mandate in
last October-February 2003. The exchange was given 10
months' time to complete all formalities to go live
and we are happy that we have met all the prerequisite
deadlines, ahead of time (within seven months), this
is a reinforcement of our commitment and promise of
deliverables to exceed customer expectations. Further,
this underscores our consistency in introducing several
pioneering initiatives for the market."
approval reinforces the value drivers of MCX that include
its management team expertise, cost of operations, state-of-the-art
technology infrastructure, 'best-in-class' business
practices combined with market friendly trading framework.
With its infrastructure in place, combined with participation
from initial set of members, MCX is well on course to
commence live operations.
Shah: We are committed to building and enhancing our
offerings, aimed at sustaining the strategic advantage
and benefits that our stakeholders derive by associating
with us. Indian commodities market can now derive benefits
of accessing at optimal cost, a nationwide multi-commodity
exchange that delivers transparent operating environment."
has recently concluded a highly successful nationwide
road show covering 23 cities across the country. The
road show, which was the first of its kind ever conducted
in the Indian commodities market, resulted in over 300
participants indicating strong interest in seeking membership
on MCX. Of these, the exchange has finalised around
100-plus members in the first stage representing some
of the leading names from the world of commodities and
institutional securities trading market.
will benefit in more than one ways by becoming members
of MCX. It has sound technology infrastructure through
its association with market leaders such as Stratus
for Fault Tolerant Servers, Financial Technologies (India)
Ltd (FTIL) for exchange automation technologies and
HCL Comnet for VSAT communication link.
on the exchange technologies framework from FTIL, a
specialist in providing mission-critical exchange technologies,
MCX gets the unique advantage of accessing high-performing,
proven class of exchange technologies at the most optimal
cost, resulting in increased efficiencies for the entire