Financial Technologies subsidiary MCX signs MoU with Zhengzhou Commodity Exchange (ZCE)

Financial Technologies India Ltd has announced that MCX (Multi Commodity Exchange of India Ltd), the Subsidiary of the Company and the Zhengzhou Commodity Exchange (ZCE) has announced on September 18, 2006 that they have signed a memorandum of understanding (MoU) to explore areas of co-operation that could mutually benefit the exchanges.

MCX India offers commodity futures contracts in agriculture, metals and energy commodities whereas ZCE China offers commodity futures contracts in wheat, cotton & white sugar. The exchanges will work together to develop areas of cooperation and business opportunities with the goal of assisting and benefiting the underlying producers, end-users, and investors in their commonly traded products by maximizing the application of international best practices for price risk management and exchange operations.

Mr. Jignesh Shah, Managing Director & Chief Executive Officer, MCX said, "We are pleased to work with the ZCE, which is one of the leading commodity exchanges in China. Through this association we shall be able to learn from each others experiences in the respective countries, which will go a long way in developing closer ties between us."

Source : Equity Bulls

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