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What is Indian Commodity Market MCX ??

June 16, 2017

what is MCX Comodity Market ??

MCX Stands for “Multi Commodity Exchange”. Multi Commodity Exchange of India Ltd (MCX) is an independent commodity exchange based in India. It was established in 2003 and is based in Mumbai. MCX has also set up in Joint venture the MCX Stock Exchange. Earlier spin-offs from the company include the National Spot Exchange, an electronic spot exchange for bullion and agricultural commodities, and National Bulk Handling Corporation (NBHC) India’s largest collateral management company which provides bulk storage and handling of agricultural products.

MCX offers Trading in varied commodity futures contracts across segments including bullion, ferrous and non-ferrous metals, energy and agricultural commodities. The Exchange focuses on providing commodity value chain participants with neutral, secure and transparent trade mechanisms, and formulating quality parameters and trade regulations, in conformity with the regulatory framework. The Exchange has an extensive national reach, with over 2000 members, operations through more than 468,000 trading terminals (including CTCL), spanning over 1900 cities and towns across India. MCX is India’s leading commodity futures exchange with a market share of about 81 % in terms of the value of commodity futures contracts traded in Q1 FY2014-15.

 

Some Key Points about MCX Commodity Exchange of India

  •     It is regulated by the Forward Markets Commission.
  •     MCX is India’s No. 1 commodity exchange with 83% market share in 2009
  •     The exchange’s main competitor is National Commodity & Derivatives Exchange Ltd.
  •     Globally, MCX ranks no. 1 in silver, no. 2 in natural gas, no. 3 in crude oil and gold in futures trading (But actual volume is far behind CME group volume as Silver is traded in 30 kg lots on MCX whereas CME traded in Approx 155 kg Lot size same in Gold 1 kg : 3. kg Approx and Crude 100 Barrels : 1000 Barrels on CME) and major volume in manuplated as there in no strict regulation in Indian markets just to escalate the prices of Shares of company. Also the major volume comes from Arbitration Of CME and MCX which is also not legal to do.
  •     The highest traded item is gold.
  •     MCX has several strategic alliances with leading exchanges across the globe
  •     As of early 2010, the normal daily turnover of MCX was about US$ 6 to 8 billion
  •     MCX now reaches out to about 800 cities and towns in India with the help of about 126,000 trading terminals
  •     MCX COMDEX is India’s first and only composite commodity futures price index

MCX Product:

MCX Commodity Exchange Includes Below Given Product elements for Trading:

  • MCX METAL: Aluminium, Copper, Lead, Nickel, Steel Long (Bhavnagar), Steel Long (Govindgarh), Steel Flat, Tin, Zinc
  • MCX BULLION: Gold, Gold HNI, Gold M, i-Gold, Silver, Silver HNI, Silver M, Silver Micro
  • MCX FIBER: Cotton L Staple, Cotton M Staple, Cotton S Staple, Cotton Yarn, Kapas, Jute
  • MCX ENERGY: Brent Crude Oil, Crude Oil, Furnace Oil, Natural Gas, M. E. Sour Crude Oil, ATF, Electricity(Now delisted), Carbon Credit
  • MCX SPICES: Cardamom, Jeera, Pepper, Red Chilli, Turmeric, Cumin Seed, Coriander
  • MCX PLANTATIONS: Arecanut, Cashew Kernel, Coffee (Robusta), Rubber
  • MCX PULSES: Chana, Masur, Yellow Peas, Tur, Urad
  • PETROCHEMICALS: HDPE, Polypropylene(PP), PVC
  • MCX OIL & OILSEEDS : Castor Oil, Castor Seeds, Coconut Cake, Coconut Oil, Cotton Seed, Crude Palm Oil, Groundnut Oil, Kapasia Khalli, Mustard Oil, Mustard Seed (Jaipur), Mustard Seed (Sirsa), RBD Palmolein, Refined Soy Oil, Refined Sunflower Oil, Rice Bran DOC, Rice Bran Refined Oil, Sesame Seed, Soymeal, Soy Bean, Soy Seeds
  • MCX CEREALS: Maize, Barley, Rice, Sharbati Rice, Basmati Rice, Wheat
  • OTHERS: Guargum, Guar Seed, Gurchaku, Mentha Oil, Potato (Agra), Potato (Tarkeshwar)

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