MCX partners with Dalian Commodity Exchange
Mumbai, November 20, 2013: Multi Commodity Exchange of India Limited (MCX), India’s top commodity bourse, and the People’s Republic of China-based Dalian Commodity Exchange (DCE), have signed a Memorandum of Understanding (MoU) to boost strategic co-operation.
The agreement is designed to facilitate potential collaboration in areas such as knowledge sharing, research and price risk management. The move will also foster the development of communication channels for the sharing of information between the exchanges.
Mr. P. K. Singhal, Deputy Managing Director of MCX said, “We are delighted to be associated with DCE. As China and India are among the top commodity consuming and producing countries, this alliance will surely go a long way in bringing more mutually beneficial opportunities that would eventually result in creating more efficient markets.”
Mr. Liu Xingqiang, Chairman, DCE said, “We are pleased to be associated with MCX, China and India are two big commodity producers and consumers in the world. The futures markets of China and India have a lot in common but with their own characteristics. The mutually beneficial partnership established between the two exchanges will enable us to understand one another’s markets, through which we could share expertise and best practices for mutual promotion and progress. We are looking forward to furthering the cooperation with MCX, working hand in hand for making contribution to the development and prosperity of the Asian and global derivatives markets as well as better serving the real economy."
Having commenced operations on November 10, 2003, Multi Commodity Exchange of India Limited (MCX) is India’s first listed, national-level, electronic, commodity futures exchange with permanent recognition from the Government of India. MCX offers the benefits of fair price discovery and price risk management to the Indian commodity market ecosystem. Various commodities across segments are traded on MCX. These include bullion, energy, metals and agri commodities. The exchange has forged strategic alliances with various Indian and International commodity exchanges and business associations.
Founded on November 18, 1993, Dalian Commodity Exchange (DCE) is one of the four futures exchanges under the supervision and administration of the China Securities Regulatory Commission (CSRC) upon the approval of the State Council, and also the only futures exchange in Northeast China. Among its 12 listed futures products approved by the CSRC are corn, No. 1 soybeans (non-gmo), No. 2 soybeans (gmo), soybean meal, soybean oil, RBD palm olein, linear low density polyethylene (LLDPE), polyvinyl chloride (PVC) ,coke, coking coal, iron ore and egg.