MCX is also known as “Multi Commodity Exchange of India Limited” is India’s ultra modern electronic commodity exchange. Its headquarters is in Mumbai. MCX is the demutualized exchange in India established by Financial Technologies India Limited (FTIL) to trade commodity futures online trading, clearing and settlement operations to facilitate permanent recognition from Government of India.
Since November 2003 the beginning of its operations, MCX has become the partner with more than 80 percent of Indian commodity futures market and it has more than 2,000 registered members who trade through the traders workstations more than 1, 00,000 in the country. In 2009, in terms of the number of trading contracts, MCX is the sixth largest exchange in the world’s fastest growing commodity futures exchanges.
On different segments on its platform MCX offers bullion, ferrous and non-ferrous metals and many agricultural commodities in more than 40 commodities. In the terms of number of futures contracts in trading, MCX is the world’s largest exchange in silver, second in gold, copper and natural gas and the third largest in crude oil futures.
MCX has been certified to three ISO standards, they are-
For quality management standard ISO 9001: 2000
For information security management standard ISO 27001: 2005
For environmental management standard ISO 14001: 2004
Including Bullion, energy, ferrous and non-ferrous metals, oil and oil seeds, cereals, pulses, plantations, spices, plastics and fibers, MCX offers futures trading in more than 40 commodities in various market segments.
MCX alliances with several leading international exchanges like Tokyo Commodity Exchange, London Metal Exchange, New York Mercantile Exchange, Bursa Malaysia Derivatives Berhad and many more leading international exchange.
The comprehensive strategic equity partners of MCX are NYSE Euro next, State Bank of India and its associates (SBI), National Bank for Agriculture and Rural Development (NABARD), National Stock Exchange of India Limited (NSE), SBI Life Insurance Company Ltd., Bank of India (BOI), Bank of Baroda (BoB), Union Bank of India, Corporation Bank, Canara Bank, HDFC Bank, FID Fund (Mauritius) Limited., – Fidelity International in association with ICICI Ventures, IL & FS, Kotak Group, Citigroup and Merrill Lynch.