Record turnover of Rs 100 crore for MCX
By Shifra Menezes | 13 Feb 2004
The Multi Commodity Exchange of India (MCX), an independent and de-mutualised commodity exchange, has reached a daily turnover of over Rs 100 crore within three months of commencing operations.
Speaking on the occasion, MCX managing director, Jignesh Shah said that the record performance represents the exchange's commitment to the task of evolving a perfect commodities market and establishing high liquidity. He attributed the figures to the presence of MCX terminals in more than 60 cities across 15 Indian states, innovative trading practices and optimum operational costs.
Shah added that with the support of the ministry of consumer affairs, forward market commission, members and over 175 live members running more than 230 trading terminals, the exchange has established strong industry support and high liquidity.
The
MCX has set up a state-of-the-art country-wide, digital
exchange facilitating online trading, clearing and settlement
operations for commodity futures trading. Headquartered
in Mumbai,
the exchange has established a thriving digital market
for trading in gold, silver, rubber, pepper and kapas
(cotton).
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