MCX signs MoU with Glass Manufacturers' Federation

Date: 13 January 2012
Mumbai, Jan 9 (PTI) Multi Commodity Exchange of India (MCX) today said it has signed an agreement with The All India Glass Manufacturers' Federation (AIGMF) for market development in the energy futures segment. "We are delighted to be associated with AIGMF.

By virtue of this MoU, market participants would be imparted knowledge about derivatives market through series of staff training and commodity awareness programmes, which will engender confidence in them to hedge their price exposures," MCX Managing Director and CEO Lamon Rutten said in a release issued here. This MoU aims to provide fundamental and technical training to the market participants, develop and provide services and facilities for the overall improvement of the commodity futures market and market practices, particularly in the energy segment. Crude oil by-products is used as an energy source in the glass melting furnaces, therefore, crude oil price volatility impacts the bottom line of the glass manufacturers. MCX will educate the market participants and enable glass manufacturers to take advantage of the commodity futures market to hedge their crude oil price exposures. Globally, MCX is the third largest exchange in crude oil with respect to the number of futures contract traded. MCX offers futures contracts in crude oil, which closely tracks WTI crude. PTI SM DK

600450 MCX signs MoU with Glass Manufacturers' Federation

See more news about:

Others also read

The Emirates Arena and Sir Chris Hoy Velodrome have just been completed, creating a new world class sporting landmark for Scotland.
Hawaii and Texas Top List of 20 States and D.C. Adding Construction Jobs Since November 2011 as Delaware and New York Trail; Vermont and Louisiana Led 19 States with One-Month Gain, D.
SAGE Electrochromics, Inc., a world leader in the development and manufacture of dynamic glass, located in Faribault, Minn., today announced it has filed a lawsuit in U.S.
The EBRD is providing loans worth €110 million to Turkish glass manufacturer Trakya Cam A.Ş. that will expand its product range at home and in Bulgaria and also establish a presence on the Russian market, setting new standards in energy efficiency.
The United States is honoring its role, to the best of its ability, as the world's locomotive, although despite the positive performance of the real estate market, America seems to be recovering slower than expected.
We sincerely thank all our members, friends and visitors for being part of GlassOnWeb and its success during 2012.

Add new comment