Jakarta | Mumbai : The Multi Commodity Exchange of India Ltd. (MCX), India’s largest exchange in the Commodity Derivatives Market segment, and the Jakarta Futures Exchange (JFX) (i.e., PT. Bursa Berjangka Jakarta), the largest exchange in the Commodity and Derivatives market in Indonesia, have entered into a Memorandum of Understanding (MoU) to enhance collaboration in key areas, including knowledge sharing, research, education, training, awareness creation, and other market development initiatives.
The MoU was formalized on February 26, 2024, at the MCX headquarters in Mumbai. Mr. P. S. Reddy, MD & CEO of MCX, and Mr. Stephanus Paulus Lumintang, President Director of JFX, signed the agreement in the presence of senior colleagues from both organizations.
Speaking on the occasion, Mr. P. S. Reddy, MD & CEO of MCX, stated, “I believe this partnership will contribute to the advancement of both marketplaces through the sharing of knowledge, best practices, education, and facilitate market development in their respective regions. We look forward to fostering a lasting and mutually rewarding relationship with JFX.”
Mr. Stephanus Paulus Lumintang, President Director of JFX, commented, “We are elated on the signing of this MOU, as it opens up exciting new avenues of growth for both MCX and JFX. We believe it is a significant milestone in fostering cooperation and collaboration between both exchanges, ultimately opening up new opportunities for traders of both countries in the derivatives market. We are optimistically looking forward to leveraging our respective strengths, resources, and expertise to create opportunities and achieve shared objectives.”