MCX starts mock trading

The city-based Multi Commodity Exchange of India Ltd (MCX) commenced mock trading on the auspicious day of 'Labha Paancham' on Wednesday.

The demutualised and independent MCX has been given permanent recognition as a nation-wide multi commodity exchange to commence live operations in all commodities including gold, silver, wheat and rice.

The exchange is geared to offer trading in over more than 200 commodities.

"MCX is among the first two exchanges in the country to have received permanent recognition to commence live trading operations," said Jignesh Shah, managing director, MCX.

"The exchange was given ten months to complete all formalities to go live and it met all deadlines ahead of time, (within seven months)," he added.

He said MCX considered it prudent to first impart training in online trading and market operations to all its participants.

It is essential for the new members from the commodities market to undergo intensive training on a screen-based trading environment, he said.

Apart from mock trading, MCX launched a newsletter, 'MCX ComNews'.

It was released by Padma Swaminathan, chairman, Forward Markets Commission (FMC), on Monday.

The newsletter covers Industry and exchange specific news.