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NT Bureau
Chennai, Apr 20:

        Multi Commodity Exchange of India Ltd (MCX) has entered into an MoU with the Agricultural Futures Exchange of Thailand (AFET) today for exploring areas of cooperation that would be of mutual benefit to the both the entities.

        MCX is a stock market for trading in futures contract for commodities like agriculture, metals and energy commodities. While Thailand's AFET offers futures contracts in white rice, rubber and tapioca. Both the exchanges would join hands to work together for exploring business with the goal of assisting and benefiting the producers, end-users and investors in traded products. Through the agreement, the exchanges would try to maximise the application of best practices for risk management and other operations. Joseph Massey, deputy managing director of MCX, said, 'through this association both the exchanges will be able to glean valuable insights into each other's working area, and more importantly, learn from the other's experience. This will go a long way into making our markets more robust and accessible.'

        AFET president Napaporn Kurupasutachai said being ranked among the top three in global commodity exchanges in bullion and top four in energy, the Thailand exchange was hopeful of learning of learning a lot more from MCX's experience as well as explore and develop business for mutual benefit.