INTERNATIONAL: CME Group Sign Memorandum of Understanding with Commodity Exchange of India

Tuesday July 21 2015

CME Group has announced it has signed a memorandum of understanding (MoU) with Multi Commodity Exchange of India Limited (MCX). The MoU concerns various cooperation activities and potential business opportunities, including a joint viability study of setting up operations in an International Finance Service Center in India.

Under this MOU, various initiatives between CME Group and MCX will also include the establishment of a joint working group to explore opportunities to develop and market new products and services for the US and Indian markets, as well as collaboration on customer education.

At the same time, CME Group and MCX also announced the extension of the licensing agreement which enables MCX to settle their rupee-denominated oil and gas contract to CME Group`s NYMEX prices.

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