MCX has become the world’s largest commodity futures exchange in gold and silver, second largest in natural gas, and third in crude oil. 85 % of MCX’s total trading business is created by the top four commodities (gold, silver, copper and crude oil)
MCX is a self-governing and de-metalized multi commodity exchange.
MCX is a self-governing and de-metalized multi commodity exchange.
Mr.Mukesh Ambani, Chairman and managing director, Reliance Industries Ltd. Inaugurated MCX on November 10, 2003. It has permanent recognition from the govt of India for facilitating on-line trading, clearing and settlement operations for commodities futures market across the country.
MCX features amongst the worlds top 3 bullion exchanges and top four energy exchanges nowadays.
MCX offers a wide range of opportunities to a large cross section of participants including producers/ processors, traders, corporate, regional trading center, importers, exporters, co-operatives and business associations amongst others.
Headquartered in the financial capital of India, Mumbai, MCX is led by an skilled management team with in-depth domain knowledge of the commodities futures market.
The average daily turnover of MCX is around USD1.55 bn (Rs.7, 000 crores - April 2006), with a record peak turnover of USD3.98 bn (Rs.17, 987 crore) on April twenty, 2006.
MCX had more than 55th market share of the total trading volume of all the domestic commodity exchanges in the 1st calendar quarter of 2006.
The exchange has also affected large deliveries in domestic commodities, signifying the efficiency of price discovery.
