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All about MCX or Multi Commodity Exchange of India

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In recent times commodity trading has gained huge popularity among investors. More so because of the good performances rendered by bullions even on the face of market crash. In view of the unreliability of the stock exchanges worldwide, significant investor interest has been shifted towards the purchase and trading of commodities which include bullions, food grains, cash crops and more.

What is the Multi Commodity Exchange:

MCX or Multi Commodity Exchange of India Ltd is an online commodity trading exchange. It has its headquarters in Mumbai in India. This commodity trading exchange has recently been demutualised and is now recognized by the Indian Government as an exchange that can assist online futures trading and be instrumental in clearing and settling of all operations related to commodity futures all over the country.

About MCX:

MCX started its operating in November 2003. Currently the exchange holds an above 80% market share of the entire commodity futures trading market in India and prides itself with above 2,153 registered members. These members operate through 296896 trading terminals. They members are distributed over 1,572 towns and cities all over India. In terms of the number of contracts traded the Multi Commodity Exchange of India Ltd ranks fifth among all commodity exchanges incorporated in the Futures Industry Association survey. Presently the Exchange is the world's leader in Silver, second in Gold, Copper and Natural Gas and third in Crude Oil futures.

Commodities offered:

The commodities offered in this exchange have been classified under eleven heads. They are:

Bullions
 

  • Gold

  • Gold Guinea 

  • Gold M 

  • Gold Petal

  • Gold Petal (New Delhi)

  • Platinum

  • Silver

  • Silver M

  • Silver Micro

 
Plantations

Rubber
 
Metals

  • Aluminum

  • Aluminum Mini

  • Copper

  • Copper Mini

  • Iron Ore

  • Lead

  • Lead Mini

  • Mild Steel Ingot,Billets

  • Nickel

  • Nickel Mini

  • Tin

  • Zinc

  • Zinc Mini

 
Energy
 

  • ATF

  • Brent Crude Oil

  • Crude Oil

  • Electricity Monthly & Weekly

  • Gasoline

  • Heating Oil

  • Imported Thermal Coal

  • Natural Gas 


Weather

  • Carbon (CER)

  • Carbon(CFI)

 
 Oil & Oil Seeds
 

  • Crude Palm Oil 

  • Kapasia Khalli 

  • Refined Soya Oil

  • Soya Bean


Cereals
 

  • Barley

  • Wheat

  • Maize-Feed / Industrial Grade 

 
Fiber

  • Kapas

  • Cotton (29mm)

Others

  • Almond

  • Gaur Seed

  • Melted Menthol Flakes

  • Mentha Oil

  • Potato (Agra)

  • Potato (Tarkeshwar)

  • Sugar M


Spices

  • Cardamom

  • Coriander

  • Turmeric

 
Pulses
 
Chana

The Exchange has introduced several standardized commodity futures on its trading platform. These contracts provide an anonymous environment for trading at an ideal price. On the basis of the comparison of trading volumes of MCX with those of the other leading global trading exchanges in the world for the calendar year of 2010 and six months ending in June 30, 2011.

Certifications:
The Multi Commodity Exchange is certified under three ISO certifications. They are:

  • ISO 9001:2008 Quality Management System standard

  • ISO 14001:2004 Environmental Management System standard

  • ISO/IEC 27001:2005 Information Security Management System standard

 

In addition to providing proficient price discovery the Exchange’s platform offers a unique opportunity to Indian investors to do business in the Indian currency.

Key shareholders of the Exchange:

Some of the key shareholders of this Exchange are:

  • FID Funds (Mauritius) Limited
  • Euronext N.V
  • Merrill Lynch Holdings (Mauritius)

 

The Exchange is promoted by FTIL.

Technology:

The Exchange boasts of a state-of-the-art technological infrastructure. In fact the technological infrastructure of the Exchange is one of the key factors behind its widespread popularity and success. The online trading platform of the Exchange can be accessed by all members through computer-to-computer link (“CTCL”) or trader workstations through the use of multiple connectivity media like VPN, VSATs, leased lines and internet. The technological infrastructure used by the Exchange allows faster trade execution, accentuates anonymity, ensure price transparency and prompt execution of order. The use of effective technology ensures the minimization of various risks such as member defaults.

Clearing banks:

The MCX has empanelled sixteen banks for clearing and settlement of funds for its members. These banks are:

  1. Axis Bank Ltd
  2. Bank Of India
  3. Canara Bank
  4. Citibank n.a.
  5. Corporation Bank
  6. Development credit bank ltd
  7. Dhanlaxmi bank
  8. HDFC bank
  9. ICICI bank
  10. Indusind bank
  11. Kotak mahindra bank ltd.
  12. Punjab National Bank
  13. State Bank of India
  14. Tamilnad Mercantile Bank Ltd
  15. Union Bank Of India
  16. Yes bank

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