The Hindu Business Line : MCX rates now on SMS for BSNL, MTNL users

THE Multi Commodity Exchange of India (MCX), Bharat Sanchar Nigam Ltd (BSNL) and Mahanagar Telephone Nigam Ltd (MTNL) on Tuesday announced the launch of short messaging service (SMS) to provide real-time prices of commodities futures and spot market.

This free service would be available for BSNL and MTNL cellular subscribers and cover the entire range of commodities traded on MCX.

The 24-hour service in English would offer real-time response, an exchange release said.

"This information initiative will empower market participants withcommodity prices on a real-time basis. Farmers, traders, exporters, importers and processors will derive unparalleled benefits from this facility," Mr Jignesh Shah, Managing Director and CEO, MCX said.

Subscribers can SMS the `commodity symbol' to 3456 and instantly receive details of the last three traded contracts.

Other query options include `help' and `commodity name'. Contract details for specific commodity-contract combination will also be available.

Mr Anil Kaushal, Senior Deputy Director General - Business Development, BSNL said, "This further consolidates our commitment to empower our customers with latest technological innovations and services."

BSNL is the first telecom company in India to launch this unique service, he said.

"We are working towards launching the interactive voice response system (IVRS) services shortly along with MCX and MTNL," he added.

Mr M.S. Rana, Executive Director, MTNL, said, "MTNL has for long been associated with impeccable service standards and with the launch of this service, the benefits will percolate to the masses. We believe this unique service will help increase the involvement of the commodity market participants and provide the requisite stimulus for further growth of these markets."

While MTNL's SMS solution is provided by Financial Technologies (I) Ltd, BSNL's solution is provided by NetXcell Ltd, Hyderabad.

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