MCX India, a subsidiary of Financial Technologies India Ltd, offers commodity futures contracts in agriculture, metals and energy commodities whereas ZCE China offers commodity futures contracts in wheat, cotton and white sugar. The exchanges will work together to develop areas of cooperation and business opportunities with the goal of assisting and benefiting the underlying producers, end-users, and investors in their commonly traded products by maximizing the application of international best practices for price risk management and exchange operations.

Jignesh Shah, managing director and chief executive officer, MCX, said, "We are pleased to work with the ZCE, which is one of the leading commodity exchanges in China. Through this association we shall be able to learn from each others experiences in the respective countries, which will go a long way in developing closer ties between us."