What is MCX ? Commodity Market of India ?
MCX Stands for "Multi Commodity Exchange". Multi Commodity Exchange of India Ltd (MCX) is an independent commodity exchange based in India. It was established in 2003 and is based in Mumbai. MCX has also set up in joint venture the MCX Stock Exchange. Earlier spin-offs from the company include the National Spot Exchange, an electronic spot exchange for bullion and agricultural commodities, and National Bulk Handling Corporation (NBHC) India's largest collateral management company which provides bulk storage and handling of agricultural products.
MCX India is known as the commodity exchange that has come into existence few years back only. If you will look for the history commodity marketing in this country, then you can find that it was established many years back. It was also running fine with comparison to the commodity market in other countries that were established several years after it. But a few elements like drought, scarcity period, foreign rules and government policies have affected this market like anything and this market has suffered a lot.
But now with the announcement of MCX India or known as the multi commodity exchange in India, things have started to change. This is one among the six commodity exchanges in India, and has offered the retail investors and traders a great chance to explore new dimensions while doing business in this market. Within a very quick time period, this commodity market has managed to establish itself as the leader in derivatives and commodities market now we see in India.
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