Multi Commodity Exchange of India Ltd., India's largest Exchange in the commodity derivatives sector, and European Energy Exchange AG (EEX) have entered into a Memorandum of Understanding (MOU), with the objective of knowledge sharing and exchanging of expertise on electricity derivative products.
This MoU would facilitate cooperation between the two exchanges in areas such as knowledge sharing, education & training and organizing events in the domain of electricity derivatives.
EEX is one of the leading energy exchanges in Europe, which develops, operates and connects secure, liquid and transparent markets for power and other energy products.
Mr. P.S. Reddy, Managing Director & CEO of MCX, stated, "We are delighted to sign a MOU with European Energy Exchange AG (EEX). This is a mutually beneficial MOU between MCX and EEX that will enable us to understand each other's market better. I am confident that this alliance between the two institutions provides for a continuous exchange of knowledge, expertise and best practices. Moreover, such cooperation is important for an overall growth and development of the commodity markets, given the evolving and dynamic nature of global markets."
Shares of MULTI COMMODITY EXCHANGE OF INDIA LTD. was past trading in BSE at Rs.1517.45 as compared to the previous close of Rs. 1513.35. The entire number of shares traded during the day was 8496 in over 1081 trades.
The stock hit an intraday high of Rs. 1520 and intraday low of 1508. The net turnover throughout the day was Rs. 12865915.