21 Jan 2020 | 11:37 PM

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MCX signs pact with Zhengzhou Commodity Exchange (ZCE)
  Multi Commodity Exchange of India Ltd. | 17 Jan 2020 | 10:51 AM
Published on 09-05-2019
Electronic exchange Multi Commodity Exchange of India Limited (MCX) said that “it has signed Memorandum of Understanding (MoU) with Zhengzhou Commodity Exchange (ZCE) one of the leading commodity exchanges in China for cooperation and the exchange of information” in a filing to Bombay Stock Exchange.


The company 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.


Agreement 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.


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” Reddy said.


“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” he said.


Jun Xiong President of Zhengzhou Commodity Exchange said "The signing of this MOU will 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” Jun said.


The shares of Multi Commodity Exchange were trading at Rs. 867.15 apiece low at 1.55 points or 0.18 per cent at 11:46 hours on the BSE.