Multi Commodity Exchange launches Gujarati website

July 18th, 2008 - 7:57 pm ICT by IANS  

Mumbai, July 18 (IANS) The Multi Commodity Exchange of India Ltd (MCX) Friday launched its Gujarati website here with a view to popularize commodity futures market among traders, investors and farmers in Gujarat. MCX chairman Venkat R. Chary said the website would provide a point of interlinkage between regional investors and MCX.

“It will increase awareness of price discovery among the Gujarati-speaking community who are deprived of information or do not understand the markets due to a language barrier,” he said.

Chary said with most knowledge-sharing on the Internet being done on English websites, information flow gets limited. The Gujarati website would help overcome this barrier to reach the masses.

The website was inaugurated by Forward Markets Commission chairman B.C. Khatua.

An MCX spokesman said participants would have up-to-date price information through the website which would assist them to understand the pricing mechanism, and provide information on various commodities and the commodity market itself.

It will also enable users enter the markets by providing information on contract specifications, product details, membership details and access to regional support centres.

Launched in 2003, the Mumbai-based MCX is a demutualised nationwide electronic multi-commodity futures exchange set up by the Financial Technologies.

At present it offers futures trading in 48 commodities, including bullion, energy, metals, oils and oilseeds, cereals, pulses, plantations, spices, plastics and fibres.

MCX also has strategic alliances with 18 Indian commodity exchanges, trade exchanges and international exchanges.

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