MCX becomes world's 6th largest commodity exchange

MCX, country's largest commodity exchange, said on Monday it has traded over 161 million contracts in 2009 to become the sixth largest in the world.

MCX traded 161.17 million contracts in 2009, up 71 per cent from 94.31 million in 2008, the exchange said.

"The key commodity segments that enabled MCX to attain the sixth position globally are bullion, base metals and energy.

Metals and energy segments contribute more than 95 per cent to MCX's volumes," MCX said.

Shanghai Stock Exchange was the world's number one commodity exchange in 2009 trading over 434 million contracts, recording over 210 per cent growth.

CME Group (420.66 million) was the second largest followed by Dalian Commodity Exchange (416.78 million), Zhen Zhou Commodity Exchange (227.11 million) and Intercontinental Exchange (207.23 million).

"The development establishes India's status as a 'Price Setter' from being a 'Price Taker'. We are committed to make MCX the best commodity exchange in the world," MCX deputy managing director P K Singhal said.

To mark the achievement, MCX would celebrate 2010 as the 'Year of Metal and Energy'. During January-December 2009, the total number of contracts traded on the MCX in silver, gold, copper, natural gas and crude oil futures were 28.51 million, 30.42 million, 29.6 million, 11.12 million and 41.09 million, respectively, MCX said.