India’s leading commodity bourse, the Multi Commod-ity Exchange Ltd (MCX), has become the world’s fifth-largest commodity futures exchange in terms of the number of contracts.
In a statement issued on Tuesday, MCX said it had become the world’s fifth-largest in terms of number of futures contracts traded during January to June 2011, based on the Futures Industry Association (FIA) volume survey and market data.
MCX has replaced China-based Dalian Commodity Futures Exchange at the fifth position, after occupying the sixth slot among global commodity futures exchanges for two years since 2009.
At that time, it had replaced the UK-based London Metal Exchange at the sixth position.
MCX’s managing director Lamon Rutten said: “We owe this success to our members, shareholders and the commodity market ecosystem participants. We are committed to make MCX the best commodity exchange in the world.”
The data for the January-June period showed that the global commodity derivatives market had grown by 10.2 per cent, based on the number of contracts. Precious metals and energy contributed 49.8 per cent and 16 per cent, respectively.
The Asia-Pacific region contributed 39.6 per cent of the total volume in terms of the number of contracts traded on the exchange.
Mumbai-based MCX is a demutualised nation-wide electronic futures exchange and the various commodi-ties traded on its platform include bullion, energy, metals and agricultural commodities.
