The Multi Commodity Exchange of India (MCX) would revolutionise the commodities trade in India through its good management techniques and the world class trading system, Lamon Rutton, the newly recruited joint managing director said following the announcement of his full time association with the exchange."The fair price mechanism of the exchange has been successful in changing the concept of commodities trade in India in a short span of two and a half years which the entire could not do in the last 40 years," added Rutton, an ex-Chief of Finance, Risk Management and Information in the Commodities Division of United Nations Conference on Trade and Development (UNCTAD), Geneva. Indian commodities exchanges are doing exceedingly well for changing the mindset of global commodities traders and the contribution of MCX is staggering, Lamon said."I'm confident that India would be able to set prices for major commodities in the years to come, especially those commodities that areproduced domestically and consumed globally," Rutton said.
