Multi Commodity Exchange of India (MCX), the largest commodity exchange in India and European Energy Exchange AG (EEX) have entered into a Memorandum of Understanding (MOU), with the objective of knowledge sharing and exchanging of expertise on electricity derivative products.

This MoU will facilitate cooperation between the two exchanges in areas such as knowledge sharing, education & training and organizing events in the domain of electricity derivatives.EEX is a leading energy exchange in Europe, which develops, operates and connects secure, liquid and transparent markets for power and other energy products.

P S. Reddy, Managing Director & CEO of MCX, said, "We are delighted to sign a MOU with European Energy Exchange AG (EEX). This is a mutually beneficial MOU between MCX and EEX that will enable us to understand each other's market better. I am confident that this alliance between the two institutions provides for a continuous exchange of knowledge, expertise and best practices. Moreover, such cooperation is important for an overall growth and development of the commodity markets, given the evolving and dynamic nature of global markets."

Shares of the company gained Rs 25.25, or 1.67%, to settle at  Rs 1,539.80.  The total volume of shares traded  was  20,128 at the BSE (Monday).