MCX awarded ‘Best Exchange -Bullion and
Metals’ by CPAI
In recognition of its continuous efforts
towards the development of the commodity futures market, and offering an
effective hedging platform to the commodity stakeholders including base metals
and bullion participants, Multi Commodity Exchange of India Ltd (MCX), India’s
No. 1 commodity exchange has been awarded ‘Best Exchange - Bullion & Metals’
by Commodity Participants Association of India (CPAI) at their 5th International
Convention themed “Changing Dynamics of Commodity Markets’ held at New Delhi on
Saturday, March 18, 2017.
The event brought together experts from across the
derivatives industry—a diverse mix of the regulator, exchanges, brokers,
corporates, commodity researchers and academia to discuss key themes and trends
that are shaping the commodity sector. Shri Radha Mohan Singh, Hon’ble Union
Agriculture Minister; Mr. Santosh Gangwar, Hon’ble MOS for Finance; Mr. Ajay
Tyagi, Chairman, SEBI, were present among other dignitaries at the event.
The award was presented to Mr. Mrugank M Paranjape, MD &
CEO, MCX by Dr. Saurabh Garg, Joint Secretary (I & C), Ministry of
Finance; and Mr. Shashank Saksena, Advisor (CM), Ministry of Finance.
MCX continues to traverse the growth path. During 2016–17
(Apr-Feb), the average daily turnover in 2016–17 stood at Rs 22,892 crore, up
5% year-on-year (y-o-y). The major contributors to this growth were base metals
and bullion; base metals pitched in with Rs. 6,713 crore (up 13.8%
y-o-y), and bullion added Rs. 8,133 crore (up 3.1% y-o-y).
On winning the award, Mr. Mrugank Paranjape, MD &
CEO, MCX, said, “We thank CPAI for bestowing this honour upon us. Given
volatile market conditions globally, risk management continues to be more
important than ever, and we are pleased to facilitate that for the market
participants in India with a wide array of products across bullion, base
metals, energy, and agri segments.”
“The Exchange’s leading position is underpinned by strong
fundamentals that enable it to capitalise on the emerging opportunities. Going
forward, as the largest commodity exchange in India, we endeavor to raise the
bar and introduce new products in the near future, to meet the needs of our
diverse market participant base”, he stated.
Speaking on the occasion, Mr. Shiv Kumar Goel, National
President, CPAI said, "I congratulate MCX on winning the Best
Exchange award under the category Bullion & Base Metals, and for its great
work in developing the Indian Commodity Market. I am confident that under MCX’s
leadership, India will soon become the price setter in gold and silver.”
“Further, in order to achieve the cherished vision of ‘Make in
India’, we all need to work together to invigorate India’s commodity
derivatives market, helping realize the vision with which it was created”, Mr.
Goel 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.
The current market share of MCX
stands at 90%. 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
international exchanges, as well as Indian and international trade
associations. For more information about MCX and its products visit www.mcxindia.com.
For further details, contact:
Shivani Sharma
Manager - Communications
Mobile: +91 98333 76243
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