Commodity exchange in pact with US tech firm

Commodity exchange in pact with US tech firm
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First Published: Wed, Jun 17 2009. 11 47 PM IST
Updated: Wed, Jun 17 2009. 11 47 PM IST
Mumbai: International Multi Commodity Exchange (IMCX), a joint venture between Indiabulls and MMTC Ltd, has forged a technology tie-up with Millennium Information Technologies (MIT), said managing director and chief executive officer Ajit Mittal.
The US-headquartered MIT provides application solutions to financial and telecom industries.
“We are planning to commence operations by August once it receives final recognition from the Forward Markets Commission,” Mittal said.
Initially, IMCX would launch a dozen commodities contracts covering farm, bullion, energy, and base metals sectors, he added.
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First Published: Wed, Jun 17 2009. 11 47 PM IST
More Topics: IMCX | Indiabulls | MMTC | Money Matters | Equities |