Multi Commodity Exchange of India is the leading commodities exchange in India based on value of commodity futures contracts traded. They are a de-mutualised exchange and received permanent recognition from the Government of India on September 26, 2003, to facilitate nationwide online trading, clearing and settlement operations of commodities futures transactions. The total value of commodity futures contracts traded on its Exchange in the nine months ended December 31, 2010 and the fiscals 2010, 2009 and 2008 was Rs 68,893.18 billion, Rs 63,933.03 billion, Rs 45,880.95 billion and Rs 31,259.59 billion, respectively. According to data maintained by the FMC, these amounts represented 83.3%, 82.3%, 87.4% and 76.9% of the Indian commodity futures industry in terms of the value of commodity futures contracts traded during those periods. A majority of the commodities they offer are significant in the Indian and global context and are also traded on international exchanges. As of December 31, 2010, they offered trading in 43 commodity futures based on contract specifications, from a diverse range of classes including bullion, ferrous and non-ferrous metals, energy, weather and agriculture. The same underlying physical asset traded under different contract specifications is regarded as a separate commodity future. For example, Gold, Gold Mini and Gold Guinea, all of which are gold futures contracts, are treated as three different commodities in deriving the total number of commodity futures traded on their Exchange. As of December 31, 2010, they had 2,107 members on their Exchange’s platform, with over 180,000 terminals including CTCL spread over 1,139 cities and towns across India.
They were the first national commodity futures exchange in India to offer futures trading in steel, crude oil and several other commodities, including carbon credits. In May 2009, they launched their almond futures. In December 2009, they launched the exchange of futures for physicals (EFP) facility for the first time in India. In May 2010 and June 2010, they launched their zinc mini futures and lead mini futures contracts, which offer trading in these metals in smaller lot sizes. In January 2011, they also launched iron ore future contracts and in February 2011, they launched silver micro and aluminium mini contracts, which offer trading in these metals in smaller lot sizes. They were the first exchange in India to initiate evening sessions to synchronise with the trading hours of global exchanges in London, New York and other major international markets to meet the needs of the physical markets that operate in such time zones. Their operations are sustained by the exchange related support infrastructure and software that they have or sourced from their Promoter, FTIL. Their technology infrastructure includes central matching engines, high end Intel servers, channel based storage area network and networking equipment for providing secured connectivity through very small aperture terminals (VSATs), virtual private networks (VPN), lease lines and the internet. They have been certified under ISO 9001:2008 for quality management standards and ISO 14001:2004 for environmental management systems with respect to developing and providing services for online trading, clearing and settlement facilities, and risk monitoring of commercial derivatives market. They have also achieved the ISO/IEC 27001:2005 certification, which is the global benchmark for information security management systems.
They offer market data and information services to third parties in relation to the commodity futures contracts traded on their Exchange for direct and indirect dissemination to market participants. They have entered into agreements with several financial information service agencies, including Bloomberg Finance L.P., IQN Data Solutions Private Limited, Interactive Data (Europe) Limited, NewsWire 18 Private Limited, TickerPlant Limited and Reuters India Private Limited to provide real time data-feed on trading prices, trading volume and other information on the commodity futures contracts which are traded on their Exchange and similar information on commodities traded on the spot markets. As part of their efforts to promote more extensive participation in the Indian commodities market, they have focused on disseminating information, providing training and educational programs to increase awareness of the Indian commodities industry to market participants. They have entered into arrangements with a number of educational institutions and commodities trade organizations to educate existing and potential market participants on the dynamics of the commodities market, provide management development programs for decision makers and industry leaders in the Indian commodities markets and provide training and certification programs relating to the Indian commodities market. They have relationships with, among other institutions, Department of Economics (Autonomous) University of Mumbai, FT Knowledge Management Company Limited, Symbiosis Institute of International Business, Takshashila Academia of Economic Research Limited and NCUI NCCT - VAMNICOM. In addition, they have entered into agreements with National Bulk Handling Corporation Limited (NBHC) for the provision of services in connection with warehousing and the physical deliveries for settlement of futures contracts traded on their Exchange.
MCXCCL - Multi Commodity Exchange Clearing Corporation (MCXCCL) was incorporated on August 1, 2008 under the Companies Act. MCXCCL’s main business is, to facilitate, set up and carry on the business of clearing and settlement of commodity and commodity derivatives and other commodities and instruments of all kinds and to initiate, facilitate, promote, assist, undertake and manage all activities in relation to commodity exchanges, commodity derivatives exchanges, commodity markets, securities, currencies, warehouse, custodial and depository services.
SME - SME Exchange of India (SME) was incorporated on September 14, 2010 under the Companies Act. SME’s main business is to establish, operate, maintain and manage facilities in India and abroad enabling the members, their authorised agents and constituents and other participants to transact, clear and settle trades done on all the segments especially for small and medium enterprises segment, in cash, spot, ready, swaps, forward, futures and options markets for providing accessibility to the markets and support services to various members.
Awards and recognitions: