Multi Commodity Exchange (MCX

Multi Commodity Exchange is a commodity exchange based in Mumbai, the financial capital of India. The MCX is a demutualized electronic multi commodity futures exchange, and enables future trading of various agricultural and non-agricultural commodities such as Metals, Pulses, Oils, Fiber, Energy, Petrochemicals, Plantations, Cereals, Bullion and Spices etc. As of 31st of December, 2007, the exchange was offering futures trading in 55 different commodities. Established in November 2003 by Financial Technologies, the MCX holds a permanent recognition issued by the Government of India. Key Attributes Multi Commodity Exchange is said to be the most prominent commodity exchange in the country, and claimed 84% of the total commodity market share in the year 2008. Awarded with an ISO 9001:2000 accreditation for the quality standards maintained by it, MCX has partnered with ten renowned commodity exchanges of the world, including Tokyo Commodity Exchange, London Metal Exchange, Chicago Climate Exchange, New York Board of Trade, Bursa Malaysia Derivatives and New York Mercantile Exchange. In terms of futures trading on a global level, Multi Commodity Exchange reportedly holds the 1st rank in the trading of Silver, 2nd rank in Natural Gas and 3rd rank in Crude Oil and Gold commodities. Gold is the highest traded commodity upon the MCX and the average monthly turnover of Gold trading was around US$ 29 Billion as of May 2007, while the average daily turnover of the exchange was about US$ 2.4 billion. Nationwide Network Facing a competition from National Commodity & Derivatives Exchange Ltd. (NCDEX), Multi Commodity Exchange has a network of around 10,000 trading terminals spread across 500 cities nationwide. The exchange also brings MCX COMDEX, which happens to be the only composite commodity futures price index existing in India. Social Activities Apart from playing a vital role in offering futures trading services to its customers nationwide, Multi Commodity Exchange also fulfills its social responsibilities, and duly follows its Corporate Social Opportunities (CSO) program. Under the CSO program, MCX has taken a number of initiatives for various social causes. These initiatives include a Gramin Suvidha Kendra (GSK), a Public Private Partnership (PPP) project in collaboration with India Post, and Pragati which is a project in partnership with Rotary International. Apart from it, MCX has also partnered with various non-profit entities such as M S Swaminathan Research Foundation, Tata Energy Research Institute (TERI) and Indian Society for Agribusiness Professionals (ISAP), to recognize its social responsibilities in an active way.

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