The Multi Commodity Exchange of India Ltd. (MCX), India's largest exchange in commodity derivatives market and Zhengzhou Commodity Exchange (ZCE), one of the leading commodity exchanges in China, have signed Memorandum of Understanding (MoU) for cooperation and the exchange of information.
MCX offers commodity futures contracts in bullion, base metal, energy and agricultural commodities, whereas commodity futures with both Agricultural and non-agricultural products like Cotton, Rapeseed Oil, Seed & Meal, Sugar, Flat Glass, Methanol, Pure Teraphthelic Acid (PTA) and Thermal Coal as underlying's are traded on ZCE. Besides ZCE offers option products on White Sugar and Cotton. Whilst, options on Gold, Silver, Crude Oil, Copper and Zinc futures are traded on MCX.
The MoU is intended to facilitate cooperation between the two exchanges in areas such as knowledge sharing, education & training, organizing events as well as to explore areas of mutual interests between the exchanges.
Mr. P.S. Reddy, Managing Director & CEO of MCX, said "We are delighted to renew our association with Zhengzhou Commodity Exchange. The long standing mutually beneficial partnership between MCX and ZCE has enabled us to understand each other's market better. As China and India are among the world's top commodity consuming and producing nations, I am confident that this continued alliance between the two institutions provides for a continuous exchange of knowledge, expertise and best practices. Moreover, such cooperation is crucial for an overall growth and development of commodity markets in the region, given the evolving and dynamic nature of global markets."
Mr. Jun Xiong, President of Zhengzhou Commodity Exchange said "The signing of this MOU wili further promote exchanges and cooperation between the two sides, especially in information sharing, high-level visits, training and education, joint activities. And it will also contribute to the development and prosperity of Asian commodity market."
Shares of MULTI COMMODITY EXCHANGE OF INDIA LTD. was last trading in BSE at Rs.868.7 as compared to the previous close of Rs. 878.6. The total number of shares traded during the day was 257773 in over 8165 trades.
The stock hit an intraday high of Rs. 897.95 and intraday low of 834.8. The net turnover during the day was Rs. 221520025.