Hit by crisis, yet MCX signs MoU with China's DCE

Written by PTI | Mumbai | Updated: Nov 21 2013, 02:21am hrs
Multi Commodity Exchange of India Ltd (MCX) today said it has signed an agreement with China-based Dalian Commodity Exchange (DCE) to boost strategic co-operation.

"We are delighted to be associated with DCE. As China and India are among the top commodity consuming and producing countries, this alliance will surely go a long way in bringing more mutually beneficial opportunities that would eventually result in creating more efficient markets," MCX Deputy Managing Director P K Singhal said in a release issued here.

The Memorandum of Understanding (MoU) will facilitate potential collaboration in areas like knowledge sharing, research and price risk management.

It will also foster the development of communication channels for sharing of information between the exchanges.

"The futures markets of China and India have a lot in common but with their own characteristics. The mutually beneficial partnership established between the two exchanges will enable us to understand one another's markets, through which we could share expertise and best practices for mutual promotion and progress," DCE Chairman Liu Xingqiang said.