MCX inks MoU with JFX to enhance development activities

Multi Commodity Exchange of India (MCX) said that it has entered into a memorandum of understanding (MoU) with Jakarta Futures Exchange (JFX) for knowledge sharing and regional development.

Jakarta Futures Exchange (JFX) is the first futures exchange in Indonesia. The main role of JFX is to provide facilities for its members to conduct futures contract transactions, based on supply and demand in the electronic trading system; as a result, pricing is formed organically.

The MoU has signed to enhance collaboration in key areas, including knowledge sharing, research, education, training, awareness creation, and other market development initiatives.

Speaking on the occasion, P. S. Reddy, MD & CEO, MCX said, I believe this partnership will contribute to the advancement of both marketplaces through sharing of knowledge, best practices, 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 on 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 towards leveraging our respective strength, resources and expertise to create opportunities and achieve shared objectives.

Multi Commodity Exchange of India (MCX) is Indias first listed, national-level, electronic exchange, and Indias leading commodity derivatives exchange with a market share of about 95.2% in terms of the value of commodity futures contracts traded in financial year 2023-24. MCX offers the benefits of fair price discovery and price risk management to the Indian commodity market ecosystem.

The company reported net loss of Rs 5.35 crore in Q3 FY24 as compared with net profit of Rs 38.79 crore in Q3 FY23. Revenue from operations jumped 33.41% YoY to Rs 191.53 crore in Q3 FY24.

The scrip shed 0.03% to Rs 3660.20 on the BSE.

Powered by Capital Market - Live News