MCX inks deal with Chinese bourse

Multi Commodity Exchange (MCX) has announced that it has signed a memorandum of understanding (MoU) with the Zhengzhou Commodity Exchange (ZCE) to explore areas of co-operation that could mutually benefit the exchanges.

MCX offers futures contracts in agriculture, metals and energy commodities, whereas ZCE China offers contracts in wheat, cotton and white sugar.

Both the exchanges will work together to develop areas of cooperation and business opportunities with the goal of assisting and benefiting the underlying producers, end-users, and investors in their commonly traded products.

Jignesh Shah, MD & CEO, MCX said, "Through this association we shall be able to learn from each others experiences in the respective countries, which will go a long way in developing closer ties between us."

Zhao Zhengping, president & CEO of the ZCE, said, "Both ZCE and MCX have listed similar products in agricultural arena. We believe this MOU will reinforce our good relationship, deepen extensive communications and provide supports for the innovations and development of both markets."