Multi Commodity Exchange of India – MCX

The Multi Commodity Exchange of India (MCX) is the largest commodity exchange in India. It provides electronic commodity futures exchanges, as well as clearing and settlement operations for community futures in India. Founded in 2003, the independent exchange is based in Mumbai and offers futures trading in more than 40 commodities. According to the Futures Industry Association, the MCX was the third largest global commodity exchange in terms of futures contracts traded in 2011.

The MCX provides futures trading in a range of mineral and agricultural commodities, including bullion, ferrous and non-ferrous metals, and energy. The highest traded item is gold, and the exchange is also sees significant futures trading in silver, natural gas, and crude oil. Among the agricultural products traded on the exhcange, futures are available in a range of oil and oil seeds, cereals, and other agricultural products, including potato, barley, rice, corn, wheat, palm oil, coffee, soy, cotton, and many others. The MCX also has approximately 126,000 trading terminals in about 800 communities across India.

The exchange has been a leader in commodities futures trading in India, and was the first exchange in the country to offer futures trading in steel, crude oil, and almonds. It was also India’s first exchange to introduce a real-time composite commodity futures index, and the first to allow evening trading when many international markets and exchanges are open for trading. MCX’s main exchange indexes include the MCXAgri for agricultural commodities, the MXCEnergy for energy commodities, and the MCXMetal for metal commodities.

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