Taiwan Futures Exchange (TAIFEX) and Multi Commodity Exchange (MCX) have signed a memorandum of understanding (MoU) to share information and best practices pertaining to product development, business & marketing initiatives, technology, and also in the areas of mutual interest of derivatives markets in India and Taiwan.

TAIFEX offers equity and commodity derivatives products whereas MCX offers commodity futures contracts in bullion, base metals, energy, agricultural and other commodities.

TAIFEX president Steve Wang said to cope with challenges of the changing global capital market, collaborations among exchanges have been increasingly important.

"We are pleased to cooperate with MCX to better serve the markets of Taiwan and India. With a history of 12 years, TAIFEX has launched several successful products over the years and we would like to share our experiences with MCX. The new partnership will contribute greatly to the mutual benefits of the two exchanges," added Wang.

MCX managing director and CEO Lamon Rutten said MCX is very much delighted to have associated with TAIFEX. MCX will continue the initiatives towards building cooperation between Indian and global markets.

"We are happy to share our experience in technology, innovation and research, and look forward to a longstanding and gratifying partnership," Rutten said.