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CME Group, Multi Commodity Exchange of India sign MoU

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CME Group and Multi Commodity Exchange of India Limited (MCX), India's leading commodity exchange, today signed a Memorandum of Understanding (MOU) on various cooperation activities and potential business opportunities, including a joint viability study of setting up operations in an International Finance Service Center in India. 

Under this MOU, various…CME Group and Multi Commodity Exchange of India Limited (MCX), India's leading commodity exchange, today signed a Memorandum of Understanding (MOU) on various cooperation activities and potential business opportunities, including a joint viability study of setting up operations in an International Finance Service Center in India. 

Under this MOU, various initiatives between CME Group and MCX will also include the establishment of a joint working group to explore opportunities to develop and market new products and services for the US and Indian markets, as well as collaboration on customer education. 

At the same time, CME Group and MCX also announced the extension of the licensing agreement which enables MCX to settle their rupee-denominated oil and gas contract to CME Group's NYMEX prices.

"India is key to our Asia growth strategy, and we have had a strong relationship with MCX since 2005," said Terry Duffy, Executive Chairman and President of CME Group.  "We look forward to greater collaboration to better serve the Indian financial

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