MCX, Indonesia's JFX ink MoU for knowledge sharing and market development
Feb 26, 2024
Mumbai (Maharashtra) [India], February 26 : Multi Commodity Exchange of India (MCX), an exchange in the commodity derivatives market segment, and the Jakarta Futures Exchange (JFX), the largest exchange in commodity and derivatives market in Indonesia, have entered into a Memorandum of Understanding (MoU) to enhance collaboration in key areas, including knowledge sharing, research, education, training, awareness creation, and other market development initiatives.
The MoU was formalised on Monday at the MCX headquarters in Mumbai. PS Reddy, MD and CEO, MCX and Stephanus Paulus Lumintang, President Director, JFX signed the agreement in the presence of senior colleagues from both the organizations.
Speaking on the occasion, PS Reddy, MD and CEO, MCX said, "I believe this partnership will contribute to the advancement of both marketplaces through sharing of knowledge, best practices, education, and facilitate market development in their respective regions."
"We look forward to fostering a lasting and mutually rewarding relationship with JFX," Reddy said.
Stephanus Paulus Lumintang, President Director of JFX said, "We are elated on the signing of this MOU, as it opens up exciting new avenues of growth for both MCX and JFX. We believe it is a significant milestone in fostering cooperation and collaboration between both exchanges, ultimately opening up new opportunities for traders of both countries in the derivatives market."
"We are optimistically looking forward towards leveraging our respective strength, resources and expertise to create opportunities and achieve shared objectives," Lumintang said.
Started on November 10, 2003, Multi Commodity Exchange of India Limited (MCX) is India's first listed, national-level, electronic exchange, and India's leading commodity derivatives exchange with a market share of about 95.6 per cent in terms of the value of commodity futures contracts traded in financial year 2023-24 (April 2023 - December 2023).
Various commodities across segments are traded on the MCX, including bullion, energy, metals and agri commodities.
