MCX signs MOU with ZCE

Kolkata, Sep 18 (UNI) Multi Commodity Exchange of India Ltd (MCX) and the Zhengzhou Commodity Exchange (ZCE) today signed a memorandum of understanding (MoU) to explore areas of co-operation that could mutually benefit the exchanges.

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

The exchanges would 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 by maximizing the application of international best practices for price risk management and exchange operations.

"We are pleased to work with the ZCE, which is one of the leading commodity exchanges in China. 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," Managing Director and Chief Executive Officer of MCX Jignesh Shah said.

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