The brainchild of the inspirational thought leader Jignesh Shah, Multi Commodity Exchange (MCX) stands tall amongst the world’s largest commodity futures exchanges.
Jignesh shah, who is also the Founder of Financial Technologies (India) Limited (FTIL), launched MCX in 2003 with an objective of bringing economic development and stimulating social stability in India.
The unparalleled success of MCX enabled the FTIL Group to establish a rock-solid universe of exchanges and ecosystem institutions. It facilitated the Financial Technologies Group tocreate a global exchange industry that constitutes a number of profitable ventures, such as the Indian Energy Exchange (IEX), the Dubai Gold & Commodities Exchange (DGCX), the Bahrain Financial Exchange (BFX), Bourse Africa, and Singapore Mercantile Exchange (SMX).
MCX designed a five-tier approach that includes a ‘mission’─ of India, by India, in India, to India, and for India.
Mission of India
Multi-asset futures trading issignificant for India’s economic development. Commodity exchanges help in accurate pricing of bullion, metals, energy and agricultural products. Also, it enables producers and consumers to mitigate risks.
Mission by India
The firm stature of the post-independence commodity futures market in India is a result of the skills, talent andfar-sighted approach of Indian investors, traders, brokers, intermediaries and bankers.
Mission in India
The development and benefits of Indian commodity exchanges stays within the borders of the country. It has helped tremendously in managing trading activities, checking price fluctuations and generating employment opportunities for many. Also, it enables the government to support its rural development programmes through the revenue generated from the taxes paid by these exchanges.
Mission to India
Commodity exchanges help inprice discovery and risk management through effectiveproduction and consumption planning. As a result, stakeholders, traders, entrepreneurs, logistic support providers, warehouse operators, collateral management companies, and individuals are benefitted to a great extent.
Mission for India
Indian commodity markets differ from capital markets. Commodity markets in India are driven by the farmers, traders, consumers and investors residing within the nation. Foreign
Institutional investors or companies have no role to play in the Indian commodity markets.
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