Through commodity exchanges, people may trade in commodities securely without being concerned about counterparty concerns. There are several commodities markets in India, but MCX, or the Multi Commodity Exchange, is the biggest.
The exchange makes it easier to trade, clear, and settle commodities futures in India. The Forward Markets Commission, or FMC, oversaw its establishment in 2003. Since FMC and the Securities and Exchange Board of India merged, MCX is now governed by SEBI.
People first must know what is MCX. The answer to this is that the MCX features various departments for various market activities, including the trading and surveillance unit, the clearing and settlement unit, the delivery unit, and the storage and logistics division.
Through the MCX, you can trade commodities of all four basic types: agricultural, base metal, energy, and bullion. Commodity futures trading has been made clear and easy by the Multi Commodity Exchange; however, one should be aware of the Indian commodity price drivers before trading.
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If done correctly and on reliable platforms like MCX, commodity trading can be profitable. Additionally, commodity exchanges support standardization and give investors a clearer understanding of the transaction.
As of November 18, 2022, Multi Commodity Exchange Share Price (MCX) on the NSE is Rs 1,501.75 and that on the BSE is Rs 1,501.60. Based on the value of traded commodity futures contracts, Multi Commodity Exchange of India Ltd. is India’s top commodities exchange
e. On September 26, 2003, the business, a demutualized exchange, was granted permanent accreditation by the Government of India to enable national online trading, clearing, and settlement activities for commodities futures.
Originally known as Multi Commodity Exchange of India Private Limited, the company was established on April 19, 2002, as a private limited company under the Companies Act.
On May 16, 2002, the corporation underwent a public limited company conversion, and as a result, its name was changed to Multi Commodity Exchange of India Limited.
In November 2003, MCX started conducting online futures trading. When Bank of India, Union Bank, and Corporation Bank invested in the business’s equity shares in 2004, the company experienced non-promoter equity involvement for the first time.
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