London Metal Exchange (LME) signed a licensing agreement with the Multi Commodity Exchange of India (MCX) which will allow MCX to use LME prices, considered the global benchmark for base metals. This is the fourth most important strategic alliance of MCX with an internationally reputed agency in recent times. Recently, MCX has tied up with New York mercantile exchange, Chicago climate exchange and Dubai gold and commodity exchange to bolster its image of a leading commodity exchange in India, with best international standards and true global prices for the contract in which MCX trades.
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Source: IIPM Editorial, 2006
