MCX to offer mini-futures in tie-up with Euronext.liffe
Euronext.liffe has brought all its derivatives products together on a single electronic trading platform.
By TNN |
MUMBAI: The Multi-commodity Exchange of India (MCX) and Euronext.liffe, the derivatives business of Euronext comprising the Amsterdam, Brussels, LIFFE, Lisbon and Paris derivatives markets, announced on Monday that they have signed a licensing agreement for MCX to use Euronext.liffe futures prices.
The agreement, which takes effect immediately, will allow MCX to list domestic mini-futures contracts for both Robusta Coffee and White Sugar based upon Euronext.liffe futures prices. In addition, a memorandum of understanding has been signed with the objective of identifying other areas of potential collaboration.
MCX MD & CEO Jignesh Shah said, “with its member and client network spread around the country, MCX will offer these mini-futures contracts to every stakeholder in the industry. With this development, the Indian industry can contribute in the global price discovery process by actively discounting the domestic fundamentals in the Indian time-zone and in the process, benefit from fair prices.”
Business worth over euro 1,500 bn is traded through Euronext.liffe every day, making it the world’s second largest derivatives exchange by value of transacted business.
Hugh Freedberg, CEO at Euronext.liffe, said the agreement with MCX envisages the provision of effective risk management tools to Indian sugar and coffee industries.
Euronext.liffe has brought all its derivatives products together on a single electronic trading platform, LIFFE Connect, to make cross-border trading easier and cheaper.
The agreement, which takes effect immediately, will allow MCX to list domestic mini-futures contracts for both Robusta Coffee and White Sugar based upon Euronext.liffe futures prices. In addition, a memorandum of understanding has been signed with the objective of identifying other areas of potential collaboration.
MCX MD & CEO Jignesh Shah said, “with its member and client network spread around the country, MCX will offer these mini-futures contracts to every stakeholder in the industry. With this development, the Indian industry can contribute in the global price discovery process by actively discounting the domestic fundamentals in the Indian time-zone and in the process, benefit from fair prices.”
Business worth over euro 1,500 bn is traded through Euronext.liffe every day, making it the world’s second largest derivatives exchange by value of transacted business.
Hugh Freedberg, CEO at Euronext.liffe, said the agreement with MCX envisages the provision of effective risk management tools to Indian sugar and coffee industries.
Euronext.liffe has brought all its derivatives products together on a single electronic trading platform, LIFFE Connect, to make cross-border trading easier and cheaper.
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