Multi Commodity Exchange of India Ltd (MCX) is an autonomous commodity exchange tucked within India. It was built up in 2003 and is as of this moment situated in Mumbai.
Mcx also know as Multi Commodity Exchange is based in India. It is an independent commodity exchange and was formed in 2003, it is based in Mumbai. The total turnover that it generated in 2014-15 was Rs 51.84 lakh crore. In terms of profits and contracts traded, it was awarded as the sixth largest commodity exchange of the world. It basically offers trade in all kinds of commodities like gold, sugar, rice, metals, energy and many more number of agriculture items.
Mcx has been able to claim seventh spot among the commodity exchanges of the world and the number of contracts traded in that specific year. It was based on the data provided and published by (FIA) Future Industry Association.
Mcx has been able to issue 6,427,378 equity shares in 2012, each share was issued for Rs 10 face value, which helped the overall market to raise almost $134 million. It was regarded as the first ever initial public offering (IPO) by an Indian Exchange.
- It is the no 1 Indian commodity exchange with a market share of almost 84%, in 2014-15.
- Their main competitor is (NCD) National Commodity & Derivatives Exchange Ltd.
- Gold, Crude Oil, Silver and Copper contracts by MCX were awarded in the top 20 in their respective commodities in the world.
- The highest item that MCX traded was gold. India did record buying in that specific year along with China, which raised the prices of Gold sky high and the value of dollar depreciated in that specific year.
- MCX is strategically involved with all the commodity exchanges of the world, which shows its importance.
- The normal daily turnover of MCX is huge, around 20,328.26 crore.
- It has spread its roots in 1879 cities of India and helped more than 4,86,000 trading terminals in India.
Different type of commodity exchange tips are provided by millions of experts in India. Security firms and other independent firms are responsible to give guidance to those people who require help. Guidance regarding each and every commodity is provided by the companies and experts. Anyone can find on internet whether to but a specific item at that specific time and even that specific minute or not. The information can be gathered from hundreds of websites in India. The idea is to buy the kind of commodity whose price is expected to increase or whose demand is expected to increase in the near future. For example before India and China bought Gold in tons, that was the time for a common man to invest in Gold, because the Gold prices rose with a huge proportion when India and China started buying it. The prices increased because it's demand got high, price is directly related to demand. If demand decreases, price decreases, and if demand increases the price is also expected to increase. So in case of commodities, the one's which are expected to have a higher demand in the near future are the ones to buy. So one should always buy those commodities and invest in those which are expected to have a higher demand, it is a hard and fast rule in economics and in MCX as well.
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