Multi Commodity Exchange (MCX) became the World's Fifth-largest Commodity Futures Exchange

India's leading commodity bourse the Multi Commodity Exchange (MCX) on 20 December 2011 became the world's fifth-largest commodity futures exchange. Financial Tech, a promoter of MCX rallied 2.88% after MCX became the world's fifth-largest commodity futures exchange.

It became the first Indian entity to join the top-five league in terms of the number of contracts. MCX replaced China-based Dalian Commodity Futures Exchange at the fifth position.

MCX become the world’s fifth-largest in terms of number of futures contracts traded during January to June 2011, based on the Futures Industry Association (FIA) volume survey and market data. MCX has occupied the sixth slot among global commodity futures exchanges for two years since 2009. It had replaced the UK-based London Metal Exchange at the sixth position.

Mumbai-based MCX is a demutualised nation-wide electronic futures exchange and the various commodi-ties traded on its platform include bullion, energy, metals and agricultural commodities.

The data for the January-June period showed that the global commodity derivatives market had grown by 10.2 per cent, based on the number of contracts. Precious metals and energy contributed 49.8 per cent and 16 per cent, respectively. The Asia-Pacific region contributed 39.6 per cent of the total volume in terms of the number of contracts traded on the exchange.