Bangalore: Multi Commodity Exchange (MCX) has been ranked as 5^th largest commodity exchange amongst top global commodity futures exchanges in terms of the highest number of futures contract traded.

Based on a report provided by Futures Industry Association (FIA) on the estimate of contracts trades, it is found that MCX has traded around 127.8 million futures contracts during the period January to June 2011.

MCX has substituted the world’s top bourse, China-based Dalian Commodity Futures Exchange to acquire the 5^th position, a release from the bourse said.

Shanghai Futures Exchange, China’s biggest commodities market, has traded 128.5 million contracts while the CME group of Chicago traded approximately 353 million contracts. Enjoying a consistent ranking as the sixth largest commodity exchange for two successive years since 2009, it replaced UK-based London Metal Exchange (LME).

Commenting on this development, Lamon Rutten, Managing Director, MCX, said: “We are proud to be the world’s 5th largest commodity futures exchange. We owe this success to our members, shareholders and the commodity market ecosystem participants. We are committed to make MCX the best commodity exchange in the world.” as cited by Times of India.

Based on the survey made by Futures Industry Association (FIA), the contracts traded on the exchange for the period January-June 2011, show that the commodity derivatives market has grown by 10.2 percent with precious metals and energy contributing 49.8 percent and 16 percent respectively, while 39.6 percent of the total volume is contributed by the Asia Pacific region in terms of number of contracts traded.