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Headquartered in Mumbai, Multi Commodity Exchange of India Ltd (MCX) is a state-of-the-art electronic commodity futures exchange. The demutualised Exchange has permanent recognition from the Government of India to facilitate online trading, and clearing and settlement operations for commodity futures across the country.
Having started operations in November 2003, today, MCX holds a market share of over 85%* (as on March 31, 2012 MCX had a market share of 86%) of the Indian commodity futures market. The Exchange has more than 2,170 registered members operating through over 3,46,000 including CTCL trading terminals spread over 1,577 cities and towns across India. MCX was the third largest^ commodity futures exchange in the world, in terms of the number of contracts traded in CY2011
MCX offers more than 40 commodities across various segments such as bullion, ferrous and non-ferrous metals, energy, and a number of agri-commodities on its platform. The Exchange introduces standardised commodity futures contracts on its platform. These contracts in futures exchanges provide an anonymous trading environment for ideal price discovery. The Exchange is the world's largest exchange# in Silver and Gold, second largest# in Natural Gas and the third largest# in Crude Oil with respect to the number of futures contracts traded.
MCX has been certified to three ISO standards including ISO 9001:2008 Quality Management System standard, ISO 14001:2004 Environmental Management System standard and ISO/IEC 27001:2005 Information Security Management System standard. The Exchange’s platform enables anonymous trades, leading to efficient price discovery. Moreover, for globally-traded commodities, MCX’s platform enables domestic participants to trade in Indian currency.
The Exchange strives to be at the forefront of developments in the commodities futures industry. MCX was the first exchange in India to initiate evening sessions to synchronise with the trading hours of global exchanges in London, New York and other major international markets. It was the first exchange in India to offer futures trading in steel, crude oil, and almond. In June 2005, MCX launched MCXCOMDEX, India’s first real time composite commodity futures index, which provides our members with valuable information regarding market movements in the key commodities, as determined by physical market size in India, which are actively traded on our Exchange. We have introduced several other indices, including MCXAgri (agricultural commodities index), MCXEnergy (energy commodities index) and MCXMetal (metal commodities index). We also have three rain indices, namely RAINDEXMUM (Mumbai), RAINDEXIDR (Indore), and RAINDEXJAI (Jaipur) which track the progress of monsoon rains in their respective geographic locations. In December 2009, we launched EFP transactions for the first time in India, which enables parties with futures positions to swap their positions in the physical markets and vice versa.
MCX has forged strategic alliances with various national and international trade bodies / associations / organisations, which we believe enables us to grow our business and expand our market presence. Among international alliances, we have formed strategic alliances with a number of exchanges such as the London Metal Exchange, the New York Mercantile Exchange, the LIFFE Administration and Management (under renewal), the Baltic Exchange Limited, Shanghai Futures Exchange and Taiwan Futures Exchange. |
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* Source: Data maintained by Forward Markets Commission (FMC), regulator of India’s commodity market
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| Globally, MCX is... |
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| ^ Source: Data published for CY 2011 on the websites of exchanges and FIA Annual Volume Survey released in March 2012 |
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| # Source: Data published for CY 2011 on the websites of exchanges and FIA data |
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