MCX signs MoU with TAIFEX to develop market derivatives

Multi Commodity Exchange (MCX) today said it will develop commodity derivatives markets along with Taiwan's Futures Exchange (TAIFEX) in both the countries through sharing of information, technology and other areas of mutual interest.  

"We are delighted to be associated with TAIFEX. The MoU will provide an opportunity to understand one another's markets and share expertise and best practices. We look forward to a longstanding and gratifying partnership with Taifex," MCX Managing Director and CEO Lamon Rutten said in a statement here.

MCX offers commodity futures contracts in bullion, base metals, energy, agricultural and other commodities whereas TAIFEX offers both equity and commodity derivatives products.

"To cope with challenges of the changing global capital market, collaborations among exchanges have been increasingly important," TAIFEX President Steve Wang sai.

He said the new partnership with MCX will contribute greatly to the mutual benefits of the two exchanges.