MCX and Mozambique Commodities Exchange sign MoU for strategic co-operation
Mumbai, September 21, 2016 :
Multi Commodity Exchange of India Limited
(MCX), India’s no. 1 commodity exchange, and the Mozambique Commodities
Exchange (also known as Bolsa De Mercadorias De Moçambique, or BMM), signed a
Memorandum of Understanding (MoU) for strategic co-operation on Tuesday,
September 20, 2016 in Mumbai.
BMM envisages to develop Mozambican commodity markets ecosystem
consisting of energy, base metals and agricultural products in an endeavor to
deliver better value to the stakeholders. MCX intends to work with BMM to
help Mozambique realize its potential behind its resource rich economy through
sharing its market and capacity development expertise.
The exchanges aim
to continue facilitating potential collaboration in areas such as sharing of
knowledge, research, experiences etc., which is expected to result in opening
up of new avenues of mutual cooperation.
Mr. Mrugank Paranjape, MD & CEO, MCX said, “We are pleased to be associated with
the efforts of the Mozambique Commodities Exchange to develop their commodities
markets. I am sure this alliance will surely go a long way in creating more
efficient markets and strengthen trading among the Asian and African regions
benefiting each other’s stakeholders. We look forward to a longstanding and
gratifying partnership with BMM. We are also pleased to have Mr. António do
Rosário Grispos, CEO of the Mozambique Commodities Exchange in our midst in
Mumbai.”
Mr. António do Rosário Grispos, CEO, BMM said, "This act that we testify today,
for us is a huge significant step in the consolidation of a commodities
exchange market in Mozambique, especially dedicated to agricultural commodities
and not only, that Mozambique is rich of. Through this agreement, the
technicians of BMM can learn from the successful experience of MCX, by its
know-how and understand the vicissitudes of a commodities market inserted in a
global market, in order to better serve the BMM and Mozambique.”
‘‘The choice of MCX, is not only due to its excellent
performance in the ranking of the best world commodities exchanges, but is also
due to the history of the peoples of these two nations (Mozambique and India),
where according to official records last at least five (05) centuries of
commercial and social exchanges, which makes all of us a living heritage of
this legacy. I am confident that with this agreement the conditions are created
for a greater cooperation between the parties, and I would like to ensure that
we will do our best to honor it”, Mr. Grispos added.
About MCX:
Having commenced operations on November 10, 2003, Multi
Commodity Exchange of India Limited (MCX) is India’s first listed,
national-level, electronic, commodity futures exchange with permanent
recognition from the Government of India. In the financial year 2015–16, the
market share of MCX was 84.30%. MCX offers the benefits of fair price discovery
and price risk management to the Indian commodity market ecosystem. Various
commodities across segments are traded on MCX. These include bullion, energy,
metals and agri commodities. The exchange has forged strategic alliances with
various Indian and International commodity exchanges and business associations.
About BMM
The Commodities Exchange of Mozambique (BMM) was
created in 2012 by the Mozambican Government through Decree No. 36/2012 of 17
October, as a public entity, endowed with legal personality, administrative and
financial autonomy and is administratively under the responsibility of the
Minister who oversees the Trade Sector. BMM started its operation in 2014 and
held its first intermediation of agricultural commodities in 2016. BMM is the
first and unique commodity exchange in Mozambique. BMM manages silos facilities
and warehouses assigned by the Government. In this first phase, BMM trades
agricultural commodities and in the near future will transact oil and gas,
precious metals and coal. For more information on BMM and its products visitwww.bmm.co.mz.
For further details, contact:
Shivani Sharma
Manager - Communications
Mobile: +91 98333 76243
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