MCX likely to tie up with Ahmedabad Commex

MCX will tie up with Ahmedabad Commodity Exchange, Jignesh Shah, managing director and chief executive officer, MCX, has said on Friday. "Discussions are on about the working model as per Forward Markets Commission's framework," Shah said.

"Ahmedabad spot exchange has a strong regional identity. MCX will take Ahmedabad spot exchange into modern times," Shah said. He said the announcement about the tie-up will be made in a month.

Shah said talks are also on for a tie-up with Surendranagar Cotton Oil & Oilseeds Association Ltd.

"MCX believes in supporting regional exchanges," he said, adding that regional exchanges require a lot of money to transform them into modern exchanges.