NEW DELHI/MUMBAI:
In recognition of its continuous efforts towards the development of the commodity futures market, and offering an effective hedging platform to the commodity stakeholders including base metals and bullion participants, Multi Commodity Exchange of India Ltd (MCX), India’s No. 1 commodity exchange has been awarded ‘Best Exchange – Bullion & Metals’ by Commodity Participants Association of India (CPAI) at their 5th International
The award was presented to Mrugank M Paranjape, MD & CEO, MCX by Dr. Saurabh Garg, Joint Secretary (I & C), Ministry of Finance; and Shashank Saksena, Advisor (CM), Ministry of Finance.
MCX continues to traverse the growth path. During 2016–17 (Apr-Feb), the average daily turnover in 2016–17 stood at Rs 22,892 crore, up 5% year-on-year (y-o-y). The major contributors to this growth were base metals and bullion; base metals pitched in with Rs. 6,713 crore (up 13.8% y-o-y), and bullion added Rs. 8,133 crore (up 3.1% y-o-y).
On winning the award, Mrugank Paranjape, MD & CEO, MCX, said, “We thank CPAI for bestowing this honour upon us. Given volatile market conditions globally, risk management continues to be more important than ever, and we are pleased to facilitate that for the market participants in India with a wide array of products across bullion, base metals, energy, and agri segments.”
“The Exchange’s leading position is underpinned by strong fundamentals that enable it to capitalise on the emerging opportunities. Going forward, as the largest commodity exchange in India, we endeavor to raise the bar and introduce new products in the near future, to meet the needs of our diverse market participant base”, he stated.
Speaking on the occasion, Shiv Kumar Goel, National Presi
dent, CPAI said, “I congratulate MCX on winning the Best Exchange award under the category Bullion & Base Metals, and for its great work in developing the Indian Commodity Market. I am confident that under MCX’s leadership, India will soon become the price setter in gold and silver.”
“Further, in order to achieve the cherished vision of ‘Make in India’, we all need to work together to invigorate India’s commodity derivatives market, helping realize the vision with which it was created”, Goel added.

more recommended stories
Fashion Factory Announces “No Conditions Sale”MUMBAI:Get ready, fashion lovers! Fashion Factory,.
India’s Credit Demand Remains Resilient – Experian’s Latest Credit InsightsMUMBAI:Experian, a leading global data and.
KSUM-Backed Travel Startup Thrillark Clocks Two Lakh-Plus CustomersKOCHI:Reflecting on major opportunities tourism sector.
One-day Workshop on IPR for Startups, MSMEs in City on Aug 19THIRUVANANTHAPURAM:Kerala Startup Mission (KSUM), in association.
Technopark Invites EoI for the 2nd IT Building under ‘QUAD’ ProjectTHIRUVANANTHAPURAM:Technopark has invited Expression of Interest.
US Tariff Crisis: Kerala to Submit Memorandum to Centre, says MinisterKOCHI:The Kerala government will include recommendations.
A Railway Technician builds a ‘Real-Life BGMI Buggy’ from scratch atop the roof of his home in RajasthanBengaluru: In a powerful display of.
Bhoomi Naturals Launches ‘Joyita’ Super Grains Brand, Enters Value-Added Food MarketKochi: Bhoomi Naturals, a leading name.
Bolster Domestic Market for Local Products to Fend off Tariff Threat: P RajeeveTHIRUVANANTHAPURAM:When earnings from export of products.
NABARD to Celebrate National Handloom Day 2025MUMBAI:In celebration of National Handloom Day.