Multi Commodity Exchange of India Ltd, MCX

MCX is an independent and de-mutulised multi commodity exchange. It was inaugurated on November 10, 2003 by Mr. Mukesh Ambani, Chairman and Managing Director, Reliance Industries Ltd.; and has permanent recognition from the Government of India for facilitating online trading, clearing and settlement operations for commodities futures market across the country. Today, MCX features amongst the world's top three bullion exchanges and top four energy exchanges.

MCX offers a wide spectrum of opportunities to a large cross section of participants including producers/ processors, traders, corporate, regional trading centre, importers, exporters, co-operatives and industry associations amongst others. Headquartered in the financial capital of India, Mumbai, MCX is led by an expert management team with deep domain knowledge of the commodities futures market. Presently, the average daily turnover of MCX is around USD1.55 bn (Rs.7,000 crore - April 2006), with a record peak turnover of USD3.98 bn (Rs.17,987 crore) on April 20, 2006. In the first calendar quarter of 2006, MCX holds more than 55% market share of the total trading volume of all the domestic commodity exchanges. The exchange has also affected large deliveries in domestic commodities, signifying the efficiency of price discovery.

Being a nation-wide commodity exchange having state-of-the-art infrastructure, offering multiple commodities for trading with wide reach and penetration, MCX is well placed to tap the vast potential poised by the commodities market.

Key shareholders

Financial Technologies (I) Ltd., State Bank of India and it's associates, National Bank for Agriculture and Rural Development (NABARD), National Stock Exchange of India Ltd. (NSE), Fid Fund (Mauritius) Ltd. - an affiliate of Fidelity International, Corporation Bank, Union Bank of India, Canara Bank, Bank of India, Bank of Baroda , HDFC Bank, SBI Life Insurance Co. Ltd., Merrill Lynch and Citigroup

Board of Directors


Mr. Venkat Chary - Chairman
IAS, Former Chairman of the Forward Markets Commission (FMC)


Mr. Jignesh Shah - Managing Director and Chief Executive Officer
Ex-BSE, Founder of FTIL


Mr. Lamon Rutten - Joint Managing Director
Ex-UNCTAD, Ex- World Bank


Mr. Joseph Massey - Deputy Managing Director
Ex-MD ISE, ED VSE, SCHIL, RBI, LIC



Mr. V. Hariharan - Director
CTO, FTIL, Ex-Group Head, NSE IT, AVP NSE, Ex-DGM, BSE


Mr. Bharat Tripathi - Director
Director, Forward Markets Commission


Mrs. Asha Das - Director
Retired IAS - FMC Nominee


Dr. Prakash Apte - Director
Director, Indian Institute of Management Bangalore - FMC Nominee


Dr. Ajit Ranade - Director
President & Group Chief Economist , Aditya Birla Group - FMC Nominee


Dr. R. Balakrishnan - Director
Nominee NABARD


Mr. Anup Banerji - Director
Nominee NABARD


Dr. S. Narayan - Director
Former Economic Advisor to Prime Minister of India



Mr. P G Kakodkar - Director
Director - FTIL, Ex-Chairman - State Bank of India


Mr. Ashish Dalal - Director
Senior Partner, Dalal & Shah, Chartered Accountants


Mr. C. Subramaniam - Director
Financial Consultant


Mr. C. M. Maniar - Director
Partner, Crawford Bayley & Co


Mr. Shevtal S. Vakil - Director
Ex. Hindustan Lever Ltd. (HLL), ex President, International Castor Oil Association, New York , COO Setco Automotive Limited


Mr. Urjit R. Patel - Director
Economist


Key Management Team


Mr. Jignesh Shah - Managing Director and Chief Executive Officer
Chairman & Managing Director - Financial Technologies (India) Ltd
Ex-Incharge of automation in BSE
Strong relationship with the broking community


Mr. Joseph Massey- Deputy Managing Director
Ex- Managing Director, Interconnected Stock Exchange
Ex- Executive Director, VSE
Prior association with SCHIL and RBI


Mr. Lamon Rutten- Joint Managing Director
Ex-UNCTAD, Chief - Finance, Risk Management and Information in the Commodities Branch of UNCTAD
Ex- World Bank, Senior Advisor with the International Task Force on Commodity Price Risk Management of the World Bank


Mr. V. Hariharan - Director
Ex-Group Head, NSE.IT,
Ex- AVP, NSE
Ex- DGM, BSE


Mr. Anjani Sinha - Director
Ex-Executive Director , Ahmedabad Stock Exchange
Ex-Executive Director, Magadh Stock Exchange
Ex-Head (Marketing), Interconnected Stock Exchange
Ex- Bombay Commodity Exchange


Mr. Shreekant Javalgekar - Group Finance Controller
Ex-India Advisor, NexGen Financial Solutions, Singapore
Ex-Managing Director, Lazard India Ltd.
Ex-Advisor, Lazard Birla Fund
Ex-Advisor, Mayur Fund
Ex-Larsen & Toubro Ltd.
Ex-Crompton Greaves Ltd.
Ex-Toyo Engineering India Ltd.

Advisory Team

Mr. Vithaldas G Udeshi, Chairman - Jayant Agro-Organics Ltd.
Mr. Kamlesh Tanna, Director - Jamnadas Madhavji International
Mr. B. Mallik, MD - IVP Ltd.
Mr. Mayur Mehta - Senior journalist in the field of commodities
Mr. Sunder Kankal - Reputed commodities expert
Mr. Atul Chaturvedi, President - Agro, Adani Exports Ltd.
Mr. T. K. Kannan, General Manager - Edible Oil Trading, Adani Wilmar Ltd.
Mr. Parvez H. Kader, Managing Director - Liberty Oil Mills Ltd.
Mr. Kishore Tanna, Director - Jamnadas Madhavji International Ltd.
Mr. B. V. Mehta, Executive Director - The Solvent Extractors Association of India
Mr. Vineet Bhatnagar, Managing Director - Refco (India) Pvt. Ltd.
Mr. H. P. Rajdev, Proprietor - Commodities & Financial Analysts
Mr. Keshav Kumar Nachani - M. P. Bullion
Mr. P. M. Chheda, Partner - Mulji Devshi & Company
Mr. Pravin Dongre, Managing Director - Andargo Services Ltd.
Mr. Prem Kogta, Director - Kogta Global Pvt. Ltd.
Mr. Arvind G. Salecha, Managing Director - Salecha Industries
Mr. C. Subramaniam (Special Invitee) , Director - Financial Technologies (India) Ltd.