Date:31/03/2006 URL: http://www.thehindubusinessline.com/2006/03/31/stories/2006033101911200.htm

Back MCX, Bursa Malaysia in pact for palm oil futures

Our Bureau

Mumbai , March 30

The Multi Commodity Exchange of India Ltd on Thursday announced that the exchange has signed a memorandum of understanding with Bursa Malaysia Derivatives Berhad (BMD) to work together for developing the commodities market and for cross listing of products.

BMD is the world's benchmark market for crude palm oil (CPO).

The exchange will shortly start futures trading in CPO.

"This MoU will allow both exchanges to further explore opportunities and develop new and promising ventures together," Mr Raghbir Singh Bhart, Head Global Markets, Bursa Malaysia, said.

About cross listing products, Mr Singh said. "We may look for futures trading in crude oil in association with MCX in the near future," Mr Singh told reporters.