India's MCX Onboard's Bloomberg Symbology for Commodity Contracts

Multi Commodity Exchange of India Limited (MCX) announced that it has adopted the Bloomberg Global Identifier (‘BBGID’) across all MCX traded contracts on its website. MCX joins a number of exchanges globally in supporting Bloomberg’s Open Symbology (BSYM) to lower data management costs and promote data transparency and information exchange.

MCX will display Bloomberg’s global ID protocol for all MCX traded contracts on its website, www.mcxindia.com. In addition, real-time pricing from MCX is tracked on the Bloomberg Professional Service at {EPRX MCX }.

MCX Gold (Dec) is trading at INR 31789.00.

“Bloomberg’s Open Symbology is gaining adoption because it is user friendly, globally relevant and supportive of the user’s need to gain access to data quickly,” said Mr. Shreekant Javalgekar, MD & CEO, MCX. “This will be very useful for all commodity trackers especially those who trade on MCX, who can Leverage this service for a wide array of functions including, trading, research, mapping, and many others”, he added.

“With its integration of Bloomberg’s Open Symbology, MCX joins a global list of exchanges and third parties that are helping to make BSYM an industry standard,” said Peter Warms of Bloomberg’s Data License and Symbology Business. “BSYM is especially useful for tracking derivatives securities within emerging markets where comprehensive and open identifiers are lacking.”

MCX is India's leading commodity derivatives exchange, since introducing currency futures India has developed its onshore FX derivatives trading and boasts trade volume of around $8 to $10 billion a day.

India will be one of the hot markets discussed by Tradenext's CEO, Mohsin Jameel in the Regional markets Panel discussion taking place at the forthcoming Forex Magnates Summit in London.