India's leading commodity bourse the Multi Commodity Exchange (MCX) has become the world's fifth-largest commodity futures exchange -- becoming the first Indian entity to join the top-five league in terms of the number of contracts.
In a statement issued today, MCX said that it has become the world's fifth-largest in terms of the number of futures contracts traded during the period January to June 2011, based on 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 6th slot among global commodity futures exchanges for two consecutive years since 2009. At that time, it had replaced UK-based London Metal Exchange on the sixth position.
Commending on the development, 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 January-June 2011 showed that the global commodity derivatives market grew by 10.2%, based on the number of contracts, with precious metals and energy contributing 49.8% and 16%, respectively.
The Asia Pacific region contributed 39.6% of the total volume in terms of number of contracts traded.
Mumbai-based MCX is a demutualised nationwide electronic futures exchange and the various commodities traded on its platform include bullion, energy, metals and agricultural commodities.
