MCX signs MoU with Thailand exchange

Mumbai, Apr 19 (UNI) Multi Commodity Exchange of India (MCX) and The Agricultural Futures Exchange of Thailand (AFET) today signed a memorandum of understanding (MoU) to explore areas of cooperation that would be of mutual benefit to the exchanges.

MCX offers commodity futures contracts in agriculture, precious metals, base metals and energy commodities, whereas AFET deals in commodity futures contracts in white rice, rubber and tapioca.

MCX deputy managing director Joseph Massey said, '' We are indeed glad to have associated with AFET, an exclusive agricultural futures exchange in Thailand that provides innovated price risk management for farmers and agricultural related business. This will go a long way into making our markets more robust and accessible.'' AFET president Napaporn Kurupasutachai said, '' This is a great opportunity for AFET to work with MCX. Being among the top three global commodity exchanges in bullion and the top four in energy, we hope to learn a lot from MCX's experience as well as to explore and develop business opportunities between the two countries for our mutual benefit.'' UNI SA SKB1902