MCX to use Neutron’s Distant Education Solution for training initiatives

Mumbai, July 26, 2007: Multi Commodity Exchange of India Ltd (MCX) has appointed Neutron Electronic Systems Pvt. Ltd, Mumbai, as its technology partner for enhancing state-of-the-art technology used in its video-based interactivity.

As India’s leading commodity exchange, it has been MCX’s constant endeavour to spread the culture of futures trading among existing and potential stakeholders in the commodities ecosystem through a slew of training programmes. Neutron’s Distant Education Solution will be used extensively to increase awareness among market participants of commodities trading through such training initiatives. Another strength that Neutron brings to the table is its expertise in providing audio-video solutions for conferencing, video-based interactivity and highly automated boardroom/classroom integration.

“Neutron’s Distant Education Solution will go a long way in enhancing the reach of MCX’s training initiatives among a swath of the commodity ecosystem’s participants by obviating the need for moderators and trainers’ physical presence in locations where participants are based. This will translate into optimum use of MCX resources by reducing traveling time and saving costs,” said Dr Chiragra Chakrabarty, Vice President- Training, Consultancy & Research Initiatives, MCX.

Mr V Rangan, Vice President – Marketing, Neutron added, “We are delighted to partner with MCX to address their growing communication needs. With Neutron’s solution, MCX will benefit from the best practices in Distance Education in the fast-evolving marketplace.”

This technology partnership will enable MCX to add increased efficiency and responsiveness to its corporate ethos. Employees and exchange members will be able to address customers more enthusiastically and proactively.

Future plans may involve the setting of an all-India call centre that would enable the exchange to interact with members and customers using Neutron’s Call Center Solutions.

About MCX
The Mumbai-based MCX (www.mcxindia.com) is an independent, demutualized, nationwide electronic multicommodity futures exchange set up by Financial Technologies with permanent recognition from the Government of India for facilitating online trading, clearing & settlement operations the futures market across the country. The Exchange started operations in November 2003. At present it has 70% market share of the total commodity futures trading volume in the country. MCX, being among the world’s top ten commodity derivatives exchanges, ranks among the top three bullion, energy and copper bourses globally in terms of contracts traded. The average daily turnover of MCX is about US$2.2 billion. MCX currently has over 1,600 members allowed to trade on its platform and transmute efficiency to the masses via spread of information.

In addition to being an ISO 9001:2000 company for quality management, it is the world’s first and only multi-commodity exchange to have achieved ISO 27001:2005 certification, the global benchmark for information security management systems.

MCX offers futures trading in 58 commodities that range from bullion, energy and agri-commodities to plastics and fibres, which are globally referable commodities benchmarked against international prices, defined in terms of the type of contracts offered. The exchange strives to spearhead developments in the commodities futures segment. Therefore, it has forged eleven strategic alliances across the world, including with Tokyo Commodity Exchange, Chicago Climate Exchange, London Metal Exchange, New York Mercantile Exchange, New York Board of Trade and Bursa Malaysia Derivatives, Berhad and ten regional alliances with the likes of Bombay Bullion Exchange, Bombay Metal Exchange, India Pepper & Spice Trade Association and The United Planters Association of Southern India.

Financial Technologies India Ltd, a leading provider of transaction automation technologies for equities, derivatives, forex and commodity markets, holds 64.11% stake in MCX. Other key stakeholders include Fidelity International, State Bank of India & its subsidiaries, National Stock Exchange (NSE) and National Bank for Agriculture & Rural Development (NABARD).