MCX and JFX sign MoU for knowledge sharing and regional development

The partnership will contribute to the advancement of both marketplaces through the sharing of knowledge, best practices, and education and facilitate market development in their respective regions

Multi Commodity Exchange of India (MCX) and Jakarta Futures Exchange (JFX) on Monday signed a memorandum of understanding (MoU) to enhance collaboration in key areas such as knowledge sharing, research, education, training, awareness creation, and other market development initiatives.

The MoU was formalised on February 26, 2024, at the MCX headquarters in Mumbai. P S Reddy, MD and CEO of MCX, and Stephanus Paulus Lumintang, President Director of JFX, signed the agreement in the presence of senior colleagues from both organisations.

Speaking on the occasion, P S Reddy, managing director and CEO, MCX, said, "I believe this partnership will contribute to the advancement of both marketplaces through the sharing of knowledge, best practices, and education and facilitate market development in their respective regions. We look forward to fostering a lasting and mutually rewarding relationship with JFX."

Stephanus Paulus Lumintang, president director of JFX, said, "We are elated at the signing of this MOU, as it opens up exciting new avenues of growth for both MCX and JFX. We believe it is a significant milestone in fostering cooperation and collaboration between both exchanges, ultimately opening up new opportunities for traders of both countries in the derivatives market. We are optimistically looking forward to leveraging our respective strengths, resources, and expertise to create opportunities and achieve shared objectives."