Multi Commodity Exchange of India (MCX) and the Mozambique Commodities Exchange (also known as Bolsa De Mercadorias De Mocambique, or BMM) have signed a Memorandum of Understanding (MoU) for strategic co-operation.

BMM envisages developing Mozambican commodity markets ecosystem consisting of energy, base metals and agricultural products in an endeavor to deliver better value to the stakeholders. MCX intends to work with BMM to help Mozambique realize its potential behind its resource rich economy through sharing its market, institutional, and capacity development expertise. The exchanges aim to continue facilitating potential collaboration in areas such as sharing of knowledge, research, experiences etc., which is expected to result in opening up of new avenues of mutual cooperation.

MCX, the leading commodity bourse, largely offers futures trading in non-agricultural commodities. The exchange contributes maximum business to the total turnover of the commodity futures market.

Source: LiveMint