The Hindu Business Line : MCX ties up with info service agencies

MULTI Commodity Exchange of India Ltd (MCX) has reached an agreement with Bloomberg, Moneyline Telerate and Reuters, world's leading financial information service agencies, to provide real time market information of MCX to their global client base.

This will provide charting services on a real time basis and will meet the requirements of individual investors, traders, producers, consumers, brokerage houses, banks and financial institutions, an exchange release said.

"This agreement will provide commodity market participants an easy access to the commodity news, analysis & exhaustive information provided by these leading global info service providers," said Mr Jignesh Shah, Managing Director, MCX.

With this tie-up MCX has further ensured that its objective is to create a market, which is much more useful, immensely practical and highly realistic for its users to benefit from the focused and simplified approach adopted by MCX, he added.

The market data and news industry has recognised the need for good information and is capitalizing on it by providing subscribers with timely and accurate information.

The real-time quote information will allow traders, analysts, commodity consumers and producers to truly see what is happening in the commodity markets. It will also enable them to chart the relations between commodity markets and the other markets. This will enable the users to hedge their risk by diversifying their investment patterns between different underlying and different segments. With increasing numbers of commodities & vibrancy being built in this market will surely benefit commodity market participants tremendously.