m c x : developing indian commodity ecosystem

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MCX: Developing Indian Commodity Ecosystem Joseph Massey Deputy Managing Director MCX

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M C X : Developing Indian Commodity Ecosystem. Joseph Massey Deputy Managing Director M C X. Why nations need commodities markets. Commodities are generic Prices are determined on global basis international trade Information effect Inter-substitutability – Food for energy - PowerPoint PPT Presentation

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  • MCX: Developing Indian Commodity EcosystemJoseph MasseyDeputy Managing DirectorMCX

  • Why nations need commodities marketsCommodities are genericPrices are determined on global basisinternational tradeInformation effectInter-substitutability Food for energyCommodity as investment Price related switchingMarket pricing efficient & gives long term signalsAll carry price risk & better to manage

  • Indian Contribution to Global Futures Market

    Sheet1

    Commodity Futures Volume in Contracts Traded (in mn)

    Region2005Market Share (%)2006Market Share (%)

    America28738.2%39039.5%

    Europe12016.0%18018.3%

    Asia34445.7%41542.1%

    Africa10.2%10.1%

    Global Total*753100.0%987100.0%

    India729.6%9910.0%

    Only top 20 exchanges are considered

    Source: FIA

    Sheet2

    Sheet3

  • Market Share of Traded Futures Volume

    Chart1

    332014

    204574

    437737.713

    Market Share of Total Global Futures Volume in Year 2006

    Sheet1

    20062005ExchangeEnergyMetalsAgricultureTotal

    FOFOFOF&Os

    11NYMEX, US191,61254,46825,3925,431276,903

    71%104%-3%30%64%

    23CBOT, US12,399106,51121,666140,576

    879%41%32%51%

    32DCE, China120,350120,350

    21%21%

    47ICE, UK92,58213892,720

    121%16%120%

    54LME, UK78,5278,22286,749

    11%0%10%

    65TOCOM, Japan19,38734,623159,66163,686

    -27%24%-56%35%3%

    78SHFE, China12,73419,32526,04758,106

    30%33%174%72%

    86NCDEX, India1253,52647,73151,382

    -5%-52%10%1%

    910ZCE, China46,29846,298

    63%63%

    1013MCX, India6,58530,7648,28745,636

    26%220%47%123%

    119NYBOT, US28,23311,66239,895

    15%35%20%

    1211TGE, Japan19,1032719,130

    -25%236%-25%

    1314CME, US16,38199019,014

    42%5%39%

    1415Euronext.LIFFE (EU)9,1247279,851

    13%63%16%

    1512C-COM, Japan8,98918129,019

    -59%-79%-82%-59%

    Energy332,014

    Metals204,574

    Agriculture437,738

    Sheet1

    0

    0

    0

    Market Share of Agri, Energy & Metals from the Total Futures Volume of the Top 15 Commodity Exchanges in the World (Year 2006)

    Sheet2

    Sheet3

    Global Commex Volumes

    2006 Volume (Annual Change - %)

    20062005ExchangeEnergyMetalsAgricultureTotal

    FOFOFOF&Os

    11NYMEX, US191,61254,46825,3925,431276,903

    71%104%-3%30%64%

    23CBOT, US12,399106,51121,666140,576

    879%41%32%51%

    32DCE, China120,350120,350

    21%21%

    47ICE, UK92,58213892,720

    121%16%120%

    54LME, UK78,5278,22286,749

    11%0%10%

    65TOCOM, Japan19,38734,623159,66163,686

    -27%24%-56%35%3%

    78SHFE, China12,73419,32526,04758,106

    30%33%174%72%

    86NCDEX, India1253,52647,73151,382

    -5%-52%10%1%

    910ZCE, China46,29846,298

    63%63%

    1013MCX, India6,58530,7648,28745,636

    26%220%47%123%

    119NYBOT, US28,23311,66239,895

    15%35%20%

    1211TGE, Japan19,1032719,130

    -25%236%-25%

    1314CME, US16,38199019,014

    42%5%39%

    1415Euronext.LIFFE (EU)9,1247279,851

    13%63%16%

    1512C-COM, Japan8,98918129,019

    -59%-79%-82%-59%

    6,71034,29056,018

    Source: Exchange data

    Sheet2

    Market Share in Indian Commodity Market

    Market Share (in Contracts Traded)Market Share (in Value Traded)

    Energy6.9%5.10%

    Metals35.3%56.9%

    Agri57.7%38.0%

    Sheet3

  • Share of Global Commodities in India

    Chart1

    2187443.3

    1192906.9

    Global linked 65%

    Domestic 35%

    Sheet1

    1856078.4169589.7131420.138169.6

    230783.51012555.3974408.238147.1

    8116.4103226.987078.616148.3

    2094978.392465.0

    Global linked Commodities2,187,443.3

    Domestic Commodities1,192,906.9

    Sheet1

    0

    0

    Market Share of Global Linked Commodities on Indian Commodity Exchanges

    Global linked Commodities65%

    Sheet2

    Sheet3

    Sheet1

    CommodityRelationship between Indian & Benchmark Global Exchanges (Percent)

    Gold95.3

    Silver97.2

    Crude Oil97.9

    Copper99.8

    Zinc98.6

    Aluminium89.4

    Ref Soy Oil84.5

    Sheet2

    Sheet3

  • Share of Agri, Energy & Metals of the Total MCX Volume in Contracts Traded (2006)

    Sheet1

    INTERNATIONALVOLUMECATEGORYJan-Dec-06

    GOLDPRECIOUS METAL9,957,351896366

    SILVERPRECIOUS METAL9,498,544506074

    COPPERNON FERROUS METAL5,293,964176157

    CRUDEOILENERGY PRODUCTS4,466,538130326

    SILVERMPRECIOUS METAL2,982,222

    MENTHAOILOTHERS2,428,23055090

    NATURALGAS1,953,75632625

    GOLDMPRECIOUS METAL1,870,417

    REFSOYOILOil887,73337706

    CARDAMOMSPICES572,1575387

    ZINCNON FERROUS METAL562,64749943

    URADAGRO PRODUCTS541,81416196

    CHANAAGRO PRODUCTS515,77710587

    GUARSEEDPLANTATION451,9139202

    KAPASKHALIOil443,5051470

    POTATOVEGETABLE397,9087300

    KAPASPLANTATION381,573

    TURAGRO PRODUCTS245,494

    ALUMINIUMNON FERROUS METAL194,970

    MASURAGRO PRODUCTS186,777

    MUSTARDOILOil176,795

    JEERASPICES140,941

    WHEATFOOD GRAINS92,548

    SUGARMAGRO PRODUCTS88,723

    BRCRUDEOILENERGY PRODUCTS83,956

    FURNACEOILENERGY PRODUCTS59,154

    MGGURCHAKUNULL56,921

    RUBBERPLANTATION53,551

    POTATOTRWRVEGETABLE52,367

    SOYSEEDOILSEEDS51,644

    HDPEHMPLASTICS49,733

    PEPPERSPICES44,317

    PPTQPLASTICS44,146

    COTTONSEEDOILSEEDS42,948

    IGOLDMAHMPRECIOUS METAL42,815

    GNUTOILEXPOil39,775

    RICEFOOD GRAINS39,550

    COCONUTOILOil38,301

    CASTOROILOil32,982

    NICKELNON FERROUS METAL30,982

    IGOLDMDELPRECIOUS METAL30,290

    YELLOWPEASAGRO PRODUCTS28,445

    BSMATIRICEFOOD GRAINS27,098

    REDCHILLISPICES27,082

    IGOLDMMUMPRECIOUS METAL25,892

    STEELLGBVNFERROUS METAL25,784

    STEELLONGFERROUS METAL23,129

    IGOLDMKOLPRECIOUS METAL21,614

    MESCRUDOILENERGY PRODUCTS21,168

    SRBATIRICEFOOD GRAINS20,537

    SPONGEIRONFERROUS METAL18,082

    MUSTRDSEEDOILSEEDS17,073

    SUGARSAGRO PRODUCTS17,013

    SILVERHNIPRECIOUS METAL16,062

    GUARGUMPLANTATION15,691

    SESAMESEEDOILSEEDS14,797

    CASTORSEEDOILSEEDS14,271

    IGOLDAHMPRECIOUS METAL13,988

    STEELFLATFERROUS METAL13,915

    ARECAJHAJIOTHERS12,891

    RJKCASSEED12,240

    COCONUTCAKOIL SEED MEALS12,149

    SUGARSKLP11,375

    TINNON FERROUS METAL11,005

    IGOLDDELPRECIOUS METAL9,778

    REFSNFLOILOil9,518

    CASHEWKERNAGRO PRODUCTS9,282

    LEADNON FERROUS METAL8,541

    RJKCASSEEDOILSEEDS8,090

    IGOLDKOLPRECIOUS METAL7,077

    MAIZEAGRO PRODUCTS6,188

    IGOLDMUMPRECIOUS METAL5,892

    GOLDHNIPRECIOUS METAL3,809

    RBDPMOLEINOILSEEDS3,759

    CPOOil3,658

    COTTONLONGAGRO PRODUCTS3,206

    GURCHAKUJAGGERY3,199

    COTTONMEDAGRO PRODUCTS1,930

    SOYMEALOIL SEED MEALS1,702

    PVCPLASTICS1,513

    RICBRNROILOil1,036

    MEDCOTYARNAGRO PRODUCTS306

    TURDESIAGRO PRODUCTS14

    DRB10

    BPPRIPSTASPICES0

    CASTORDISAOILSEEDS0

    CASTORSD5TOILSEEDS0

    COTTONSHRTAGRO PRODUCTS0

    GOLDAHMPRECIOUS METAL0

    GOLDDELPRECIOUS METAL0

    GOLDKOLPRECIOUS METAL0

    GOLDMAHMPRECIOUS METAL0

    GOLDMDELPRECIOUS METAL0

    GOLDMKOLPRECIOUS METAL0

    GOLDMMUMPRECIOUS METAL0

    GOLDMUMPRECIOUS METAL0

    GUARGUMBNDPLANTATION0

    GUARSEDBNDAGRO PRODUCTS0

    GURAGRO PRODUCTS0

    LONGCOTTONAGRO PRODUCTS0

    MEDCOTTONAGRO PRODUCTS0

    MUSTARDJPROILSEEDS0

    SOYOILNBOTSPICES0

    TURMERICSPICES0

    Sheet2

    Key Contracts Traded on MCX (2006)

    Name of the ContractVolume (in Contracts Traded)Turnover (in USD bn)(in Rs. Cr.)(in Lots)(in Rs. Cr.)

    1GOLD9,957,351203.7896,3661GOLD9,957,351896366

    2SILVER9,498,544115.0506,0742SILVER9,498,544506074

    3COPPER5,293,96440.0176,1573COPPER5,293,964176157

    4CRUDEOIL4,466,53829.6130,3264CRUDEOIL4,466,538130326

    5MENTHAOIL2,428,23012.555,0905MENTHAOIL2,428,23055090

    6ZINC562,64711.449,9436ZINC562,64749943

    7REFSOYOIL887,7338.637,7067REFSOYOIL887,73337706

    8NATURALGAS1,953,7567.432,6258NATURALGAS1,953,75632625

    9SILVERM2,982,2226.227,3429URAD541,81416196

    10GOLDM1,870,4173.917,12210CHANA515,77710587

    11GRAM515,7772.410,58711GUARSEED451,9139202

    12GUARSEED451,9132.19,20212POTATO397,9087300

    13POTATO397,9081.77,30013CARDAMOM572,1575387

    14CARDAMOM572,1571.25,38714KAPASKHALI443,5051470

    Grand Total45,635,538460.42,025,665

    Sheet3

  • Mini Contracts of Global commodities in Indian Time Zone Availability of smaller contracts on Indian exchanges helps smaller traders/companies to hedge their risk Price discovery at Indian time zone High level of relationship between Indian and global markets in globally linked commodities

    Sheet1

    CommodityBenchmark ExchangeIndian Market

    Contract Size(in USD)Contract Size(in USD)

    Copper25 tonnes (LME)150,0001 tonne6,000

    Aluminium25 tonnes (LME)137,5002 tonnes5,500

    Zinc25 tonnes (LME)83,7505 tonnes16,750

    Crude Oil1000 barrels (NYMEX)60,000100 barrels6,000

    Gold100 troy oz64,0001 kilogram20,500

    Silver5000 troy oz65,00030 kilograms12,600

    Sheet2

    Sheet3

  • New developments expectedNew products Options and Indices (Weather, commodity, Carbon Credits, freight, etc.)Exchange traded fundsBanks, MFs and FIIs in commodities marketGlobal strategic alliance and cross listing of productsDomestic investors going globalCapital account convertibility & greater global integration

  • MCX Growth Story

    Chart1

    4.6355555556

    26.8

    105.6288888889

    142.1777777778

    267.2577777778

    335.0244444444

    350.4088888889

    589.8266666667

    1186.76

    1866.0822222222

    2695.8

    3903.7111111111

    4720.04

    4700.5133333333

    3999.02

    5572.4977777778

    7085.8555555556

    5887.5444444444

    6672.4555555556

    9331.1422222222

    10814.9555555556

    13630.9377777778

    18069.6755555556

    16957.7711111111

    16941.0644444444

    25775.5422222222

    28508.1377777778

    25435.22

    35671.8755555556

    39702.4622222222

    45044.7955555556

    34730.0088888889

    38946.08

    39802.4111111111

    42250.6697111111

    39152.2685777778

    43777.3601555556

    37134.1399777778

    46896.5259111111

    47611.5993333333

    Million USD

    Sheet1

    Rs CroresRs MillionUSD Million

    Nov '0320.86208.64.64

    Dec-03120.6120626.80

    Jan-04475.334753.3105.63

    Feb-04639.86398142.18

    Mar-041202.6612026.6267.26

    Apr-041507.6115076.1335.02

    May-041576.8415768.4350.41

    Jun-042654.2226542.2589.83

    Jul-045340.4253404.21186.76

    Aug-048397.3783973.71866.08

    Sep-0412131.11213112695.80

    Oct-0417566.71756673903.71

    Nov-0421240.18212401.84720.04

    Dec-0421152.31211523.14700.51

    Jan-0517995.59179955.93999.02

    Feb-0525076.24250762.45572.50

    Mar-0531886.35318863.57085.86

    Apr-0526493.95264939.55887.54

    May-0530026.05300260.56672.46

    Jun-0541990.14419901.49331.14

    Jul-0548667.348667310814.96

    Aug-0561339.22613392.213630.94

    Sep-0581313.54813135.418069.68

    Oct-0576309.97763099.716957.77

    Nov-0576234.79762347.916941.06

    Dec-05115989.941159899.425775.54

    Jan-06128286.621282866.228508.14

    Feb-06114458.491144584.925435.22

    Mar-06160523.441605234.435671.88

    Apr-06178661.081786610.839702.46

    May-06202701.582027015.845044.80

    Jun-06156285.041562850.434730.01

    Jul-06175257.361752573.638946.08

    Aug-06179110.851791108.539802.41

    Sep-06190128.01371901280.13742250.67

    Oct-06176185.20861761852.08639152.27

    Nov-06196998.12071969981.20743777.36

    Dec-06167103.62991671036.29937134.14

    Jan-07211034.36662110343.66646896.53

    Feb-07214252.1972142521.9747611.60

    Sheet1

    Million USD

    MCX Monthly Turnover

    Sheet2

    Sheet3

    Chart1

    425286.5748

    138564.9115

    5771.4182549

    8690.216

    Market Share of MCX (Jan - Feb 2007)

    Begin

    Daily/Monthly/Yearly Exchanges' Turnover

    1FMC DataMonthly

    Yearly

    Financial Year

    2R & D DataDaily

    Monthly

    Yearly

    Financial Year

    Begin

    2025664.9511

    1243327.7166

    111404.6598614

    104741.067

    Market Share of MCX (2006)

    Daily (R&D)

    425286.5748

    138564.9115

    5771.4182549

    8690.216

    Market Share of MCX (2007)

    Monthly (R&D)

    Daily Turnover (Rs. Crore)

    DateMCXNCDEXNMCETotal

    1/1/0593.5435.3528.8

    1/3/051,176.41,484.044.42,704.9

    1/4/051,088.01,405.862.22,556.0

    1/5/05787.31,366.272.02,225.5

    1/6/05755.61,765.747.22,568.5

    1/7/051,052.81,160.743.62,257.1

    1/8/0595.9509.321.4626.6

    1/10/05495.1898.641.11,434.8

    1/11/05705.8146.440.9893.0

    1/12/05906.01,364.735.32,305.9

    1/13/05762.41,228.135.62,026.1

    1/14/05778.3753.10.01,531.3

    1/15/0590.3684.635.7810.6

    1/17/05262.91,567.754.81,885.4

    1/18/05698.21,988.554.12,740.8

    1/19/05913.81,532.743.52,489.9

    1/20/05827.91,210.463.32,101.5

    1/21/05945.31,358.520.42,324.1

    1/22/05190.0489.921.2701.1

    1/24/05779.21,584.059.72,422.8

    1/25/051,047.31,577.041.42,665.6

    1/26/050.00.00.00.0

    1/27/05926.11,691.864.62,682.5

    1/28/05838.21,604.243.62,486.0

    1/29/05187.7729.325.8942.8

    1/31/051,591.81,210.947.62,850.3

    2/1/05689.11,036.153.41,778.6

    2/2/05736.11,254.770.82,061.6

    2/3/051,063.11,168.264.52,295.9

    2/4/051,051.3994.350.42,095.9

    2/5/05159.6456.117.0632.7

    2/7/051,180.11,158.744.02,382.7

    2/8/05911.01,426.462.72,400.2

    2/9/05976.61,806.839.62,823.0

    2/10/051,559.22,468.640.64,068.4

    2/11/051,581.41,838.442.73,462.5

    2/12/05211.4809.435.61,056.4

    2/14/051,155.21,659.954.32,869.4

    2/15/051,349.71,815.245.63,210.4

    2/16/051,816.51,941.440.53,798.4

    2/17/051,260.51,655.258.72,974.4

    2/18/051,078.31,639.746.82,764.8

    2/19/05115.0587.524.1726.5

    2/21/05584.41,254.270.71,909.3

    2/22/051,477.91,744.840.73,263.4

    2/23/051,579.11,634.032.33,245.5

    2/24/051,543.71,732.740.83,317.2

    2/25/051,498.81,811.350.33,360.4

    2/26/05307.2975.120.01,302.3

    2/28/051,190.91,796.648.63,036.1

    3/1/051,243.62,391.849.73,685.1

    3/2/051,747.82,842.445.24,635.4

    3/3/051,207.32,160.069.83,437.1

    3/4/051,510.52,104.955.03,670.4

    3/5/05270.71,106.118.11,394.9

    3/7/051,032.02,375.258.23,465.3

    3/8/051,360.43,100.943.94,505.2

    3/9/051,641.02,402.283.74,126.9

    3/10/051,380.62,165.786.23,632.6

    3/11/051,778.31,886.678.03,742.9

    3/12/05232.7857.637.61,127.9

    3/14/051,570.61,939.086.83,596.3

    3/15/051,639.61,685.478.93,404.0

    3/16/051,196.61,383.368.52,648.4

    3/17/051,428.31,490.459.52,978.1

    3/18/051,366.91,914.051.73,332.6

    3/19/05259.1687.722.9969.7

    3/21/051,652.61,640.666.83,360.0

    3/22/051,322.91,761.859.33,144.0

    3/23/051,631.91,506.954.43,193.1

    3/24/051,301.71,379.23.92,684.8

    3/28/051,301.92,182.639.03,523.6

    3/29/05958.82,442.230.63,431.7

    3/30/051,267.24,271.446.35,584.9

    3/31/051,583.32,704.147.64,334.9

    4/1/051,348.51,788.636.83,173.8

    4/2/05187.21,251.118.11,456.4

    4/4/05894.22,854.036.53,784.7

    4/5/05869.43,143.544.44,057.3

    4/6/051,117.63,299.346.94,463.8

    4/7/051,003.72,798.833.43,835.8

    4/8/051,098.42,007.844.03,150.2

    4/9/05151.6861.021.91,034.5

    4/11/051,000.84,012.641.45,054.8

    4/12/051,292.72,573.635.13,901.4

    4/13/051,405.02,185.434.63,625.0

    4/14/051,028.72,192.79.53,230.9

    4/15/051,178.42,677.420.03,875.8

    4/16/05152.91,227.511.91,392.3

    4/18/051,121.12,269.522.93,413.5

    4/19/051,529.52,734.550.34,314.3

    4/20/051,676.62,464.955.44,197.0

    4/21/051,301.92,540.844.43,887.2

    4/22/051,023.32,427.445.53,496.1

    4/23/05119.11,368.220.21,507.4

    4/25/05763.41,655.630.72,449.8

    4/26/05991.81,661.624.22,677.6

    4/27/051,552.11,882.941.43,476.4

    4/28/051,577.92,404.648.64,031.1

    4/29/051,815.52,618.245.44,479.1

    4/30/05292.71,136.422.71,451.8

    5/2/051,245.22,055.228.43,328.9

    5/3/051,042.72,065.334.53,142.4

    5/4/051,189.32,234.641.33,465.3

    5/5/051,328.82,363.332.83,724.8

    5/6/051,642.32,050.048.03,740.2

    5/7/05204.91,088.520.91,314.3

    5/9/051,113.31,851.038.33,002.6

    5/10/051,066.62,188.546.33,301.4

    5/11/051,411.82,250.543.23,705.5

    5/12/051,663.72,293.939.43,997.0

    5/13/051,442.52,341.748.33,832.5

    5/14/05205.61,348.230.11,584.0

    5/16/051,049.42,191.444.13,284.8

    5/17/051,158.42,557.044.03,759.4

    5/18/051,525.72,475.539.84,041.0

    5/19/051,146.32,127.535.23,309.0

    5/20/051,435.21,970.231.83,437.2

    5/21/05161.0950.726.91,138.6

    5/23/05950.61,551.530.02,532.1

    5/24/051,289.02,304.645.43,639.0

    5/25/051,519.22,375.144.43,938.8

    5/26/051,591.72,655.040.84,287.5

    5/27/051,518.72,330.731.73,881.1

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    7/21/0610,418.63,811.6688.014,918.2

    7/22/06579.22,490.8381.93,451.9

    7/24/069,900.84,228.9767.414,897.1

    7/25/068,533.64,660.0776.313,970.0

    7/26/066,231.23,896.4733.210,860.8

    7/27/067,953.64,698.5745.013,397.1

    7/28/067,086.03,598.1778.011,462.0

    7/29/06595.71,756.4387.92,740.0

    7/31/067,417.63,730.5770.411,918.5

    8/1/067,357.53,738.9615.811,712.2

    8/2/069,332.94,128.6648.014,109.5

    8/3/069,051.24,013.0677.713,742.0

    8/4/068,228.03,170.6675.612,074.2

    8/5/06656.11,955.7346.72,958.5

    8/7/067,582.33,037.7674.711,294.7

    8/8/066,404.72,889.3566.19,860.1

    8/9/068,398.32,438.4197.111,033.8

    8/10/0611,177.75,359.8573.817,111.3

    8/11/069,869.44,369.3609.814,848.5

    8/12/06494.22,564.9295.83,354.9

    8/14/067,764.64,288.1740.612,793.3

    8/16/067,697.44,586.1673.012,956.4

    8/17/068,294.84,722.1720.113,737.0

    8/18/068,297.34,057.1621.412,975.8

    8/19/06553.92,315.2387.53,256.6

    8/21/067,495.84,986.7852.713,335.1

    8/22/067,667.74,715.8872.113,255.6

    8/23/068,727.44,191.0759.313,677.7

    8/24/068,099.34,753.2845.313,697.9

    8/25/066,043.44,269.5805.711,118.6

    8/26/06474.32,371.5387.43,233.2

    8/28/065,968.33,742.0625.010,335.2

    8/29/067,431.43,859.4636.611,927.4

    8/30/067,621.04,229.4688.712,539.1

    8/31/068,387.64,426.6632.713,446.9

    9/1/067,262.04,023.9635.111,921.1

    9/2/06665.82,352.4343.73,361.9

    9/4/062,412.74,497.5747.17,657.3

    9/5/069,260.84,990.1729.014,979.9

    9/6/067,591.75,335.11,060.013,986.8

    9/7/0610,552.66,751.6896.218,200.4

    9/8/069,842.54,960.7652.215,455.4

    9/9/06758.93,024.7426.34,209.8

    9/11/0612,360.25,692.61,038.619,091.3

    9/12/068,753.94,539.0760.414,053.3

    9/13/0610,849.45,870.21,111.317,831.0

    9/14/069,483.15,681.71,124.016,288.8

    9/15/069,765.15,301.8964.116,031.0

    9/16/06783.92,752.6518.74,055.2

    9/18/068,726.95,363.31,042.115,132.4

    9/19/068,994.45,302.3807.715,104.4

    9/20/069,093.54,502.1650.214,245.8

    9/21/068,845.14,675.9829.314,350.3

    9/22/068,318.84,819.9805.613,944.2

    9/23/06873.92,384.9438.93,697.7

    9/25/068,379.74,451.5802.813,634.0

    9/26/068,308.34,740.81,012.814,061.8

    9/27/069,202.44,446.1822.414,470.9

    9/28/069,426.64,370.2749.314,546.1

    9/29/068,118.14,504.5747.813,370.4

    9/30/061,497.82,136.1413.34,047.2

    10/3/068,733.44,026.8702.513,462.7

    10/4/0610,176.94,727.2746.315,650.4

    10/5/067,404.34,347.0747.712,499.0

    10/6/069,568.85,162.0716.915,447.7

    10/7/06783.72,528.9323.13,635.8

    10/9/068,526.34,377.5717.313,621.1

    10/10/068,984.33,969.3712.113,665.6

    10/11/068,880.05,107.9737.514,725.3

    10/12/068,484.64,625.5728.813,839.0

    10/13/068,745.44,826.2711.014,282.5

    10/14/06983.23,216.7377.64,577.5

    10/16/068,545.35,049.4503.614,098.3

    10/17/069,507.94,140.8506.114,154.8

    10/18/067,393.14,311.0516.512,220.6

    10/19/068,120.83,930.6510.712,562.1

    10/20/066,320.83,581.3609.110,511.3

    10/21/06593.5994.3160.41,748.3

    10/23/066,538.32,762.5282.39,583.1

    10/24/066,244.6472.16,716.7

    10/25/067,581.83,680.9399.011,661.7

    10/26/067,930.74,126.9412.212,469.8

    10/27/067,265.84,206.1423.111,895.0

    10/28/06760.41,789.3204.12,753.8

    10/30/069,086.54,538.8406.114,031.4

    10/31/069,024.63,626.2355.713,006.6

    11/1/069,078.23,023.6333.712435.5

    11/2/068,280.03,771.4451.112502.5

    11/3/069,686.54,003.8361.014051.3

    11/4/06755.82,554.8207.23517.8

    11/6/068,476.13,369.2210.012055.2

    11/7/068,057.23,234.975.211367.3

    11/8/0610,255.23,727.190.814073.1

    11/9/0610,402.434,219.3680.3914702.2

    11/10/0611,680.383,899.5183.5615663.4

    11/11/06824.532,170.7341.903037.2

    11/13/069,406.913,543.3357.2113007.4

    11/14/068,487.473,049.4255.9611592.8

    11/15/069,968.743,996.1446.0914011.0

    11/16/068,377.093,670.9652.1912100.2

    11/17/0610,400.843,086.9746.0313533.8

    11/18/06578.412,045.4925.342649.2

    11/20/067,615.573,803.8145.4511464.8

    11/21/067,862.593,636.3852.4711551.4

    11/22/069,191.674,923.4895.4414210.6

    11/23/062,529.274,349.70108.976987.9

    11/24/066,808.884,010.2286.8310905.9

    11/25/061,356.852,204.1835.913596.9

    11/27/068,412.853,787.38101.6412301.9

    11/28/068,751.663,727.3188.7412567.7

    11/29/069,508.355,126.1677.9014712.4

    11/30/0610,244.734,225.5380.9414551.2

    12/1/068,310.774,150.8078.3312539.9

    12/2/06929.062,241.6330.233200.9

    12/4/066,688.003,325.3663.4610076.8

    12/5/0610,941.663,403.8871.2414416.8

    12/6/0610,007.733,481.0580.0113,568.79

    12/7/0610,489.943,840.0671.1914,401.20

    12/8/0610,430.872,831.2396.9613,359.05

    12/9/06969.341,702.7341.552,713.62

    12/11/067,474.792,972.0184.4010,531.20

    12/12/066,460.832,621.2863.149,145.26

    12/13/068,235.842,450.7655.4110,742.01

    12/14/066,409.712,884.8765.569,360.15

    12/15/0610,850.232,828.3689.9513,768.54

    12/16/061,364.322,026.0251.623,441.95

    12/18/069,431.093,202.5599.9512,733.59

    12/19/069,179.812,994.7677.8512,252.42

    12/20/068,907.033,244.0962.8512,213.98

    12/21/068,526.412,781.5063.8111,371.72

    12/22/066,706.502,742.4589.969,538.91

    12/23/06803.701,734.5526.392,564.63

    12/26/064,753.472,628.93109.357,491.75

    12/27/065,793.512,491.4966.558,351.55

    12/28/066,221.182,870.3758.249,149.79

    12/29/065,885.852,951.4369.568,906.84

    12/30/061,332.072,088.43134.613,555.11

    1/1/071,013.962,439.10134.613,587.66

    1/2/075,883.733,244.79155.809,284.32

    1/3/0714,373.733,757.53137.5718,268.84

    1/4/0711,345.123,031.70104.0314,480.85

    1/5/0713,886.233,424.72127.9017,438.85

    1/6/071,246.542,158.6390.233,495.39

    1/8/0710,096.372,884.65136.2813,117.30

    1/9/0711,158.332,839.79128.9314,127.06

    1/10/0710,885.092,825.87129.6213,840.58

    1/11/0710,235.082,880.7697.3313,213.17

    1/12/0710,131.622,759.7897.4512,988.85

    1/13/071,189.732,028.1647.353,265.24

    1/15/073,553.912,021.6185.785,661.30

    1/16/0710,416.282,418.7963.0312,898.10

    1/17/0711,136.692,312.3556.0113,505.06

    1/18/0711,200.802,568.3342.9113,812.03

    1/19/078,202.092,221.0368.6710,491.79

    1/20/07655.701,985.8158.142,699.64

    1/22/078,273.063,044.4397.0111,414.50

    1/23/078,275.662,290.0588.9010,654.62

    1/24/079,241.532,782.4781.0012,104.99

    1/25/079,473.092,487.31125.7612,086.16

    1/27/07728.961,617.4989.682,436.14

    1/29/079,540.033,253.79150.5012,944.32

    1/30/078,055.023,314.15143.2811,512.45

    1/31/0710,836.022,943.14166.5913,945.76

    2/12/079,924.003,242.16226.3613,392.52

    2/2/0712,080.443,474.65180.9815,736.06

    2/3/071,006.862,063.00114.683,184.54

    2/5/078,235.802,342.67132.3110,710.78

    2/6/078,711.942,424.11119.4611,255.52

    2/7/078,958.732,524.54135.8811,619.15

    2/8/0710,756.482,873.70119.5913,749.76

    2/9/079,634.383,331.4781.1313,046.97

    2/10/07725.371,936.5159.452,721.34

    2/12/0710,049.792,864.12112.5013,026.41

    2/13/079,851.072,758.30123.3012,732.68

    2/14/079,834.692,751.06120.4312,706.17

    2/15/0711,106.692,809.60131.9314,048.23

    2/16/077,809.662,246.32118.9110,174.89

    2/17/07596.062,106.3154.822,757.19

    2/19/073,580.973,229.47149.626,960.06

    2/20/0710,670.953,280.24122.9214,074.11

    2/21/0712,039.793,501.54113.4815,654.81

    2/22/0711,911.103,150.64131.3915,193.12

    2/23/0711,934.663,325.57151.1815,411.42

    2/24/07758.002,099.0292.042,949.06

    2/26/0711493.793335.7866155.5814,985.16

    2/27/0716,658.773,614.66171.0120,444.45

    2/28/0715,922.203,743.22148.1019,813.51

    3/1/0715,430.433,748.55171.9519,350.93

    3/2/0717,420.273,526.61146.3721,093.25

    3/3/071,040.521,684.9470.172,795.62

    Daily Turnover (Rs. Crore)

    Yearly (R&D)

    Monthly Turnover (Rs. Crore)]Monthwise Daily Average Turnover Rs. Crores

    MCXNCDEXNMCEOthersTotal (excl. Others)Total (incl. Others)MCXNCDEXNMCE

    Jan-0517,995.629,747.41,019.248,762.148,762.1719.821,189.8944.31

    Feb-0525,076.234,665.11,094.660,836.060,836.01,044.841,444.3845.61

    Mar-0531,886.350,381.91,341.583,609.883,609.81,275.452,015.2753.66

    Apr-0526,494.058,037.9886.36,718.285,418.192,136.41,018.992,232.2234.09

    May-0530,026.154,460.2990.57,295.885,476.792,772.51,154.842,094.6238.09

    Jun-0542,002.966,965.11,003.48,578.2109,971.4118,549.61,615.492,575.5838.59

    Jul-0548,667.376,000.61,110.06,740.0125,778.0132,518.01,946.693,040.0242.69

    Aug-0561,339.299,727.71,142.07,505.6162,208.9169,714.52,359.203,835.6845.68

    Sep-0581,313.5103,927.9930.78,872.3186,172.2195,044.43,127.444,157.1137.23

    Oct-0576,310.0101,561.1831.710,616.2178,702.8189,319.02,934.993,906.1933.27

    Nov-0576,234.8101,860.1780.89,846.1178,875.6188,721.82,932.103,917.6932.53

    Dec-05115,989.9104,885.8980.29,742.8221,855.9231,598.64,295.923,884.6536.30

    Jan-06128,286.683,330.51,224.19,165.7212,841.2222,006.95,131.463,333.2151.00

    Feb-06114,458.5101,448.63,206.910,945.5219,114.0230,059.54,769.104,227.02133.62

    Mar-06160,523.4114,482.65,300.011,997.9280,306.1292,304.05,945.314,240.09203.85

    Apr-06178,661.1112,401.66,589.68,756.1297,652.3306,408.47,444.214,496.06274.57

    May-06202,701.6150,085.211,036.59,217.8363,823.3373,041.17,507.465,558.70408.76

    Jun-06156,284.7113,325.113,951.16,069.5283,560.9289,630.36,010.954,358.65536.58

    Jul-06175,257.493,826.416,534.27,382.2285,618.0293,000.26,740.663,608.70635.93

    Aug-06179,076.599,179.816,129.28,145.1294,385.5302,530.66,887.553,814.60620.35

    Sep-06190,128.0117,471.420,129.07,789.2327,728.4335,517.67,312.614,518.13774.19

    Oct-06176,185.294,125.112,509.86,379.6282,820.2289,199.87,047.403,765.00521.24

    Nov-06196,998.293,160.82,992.09,495.9293,151.0302,646.97,576.853,583.10115.08

    Dec-06167,103.770,490.61,802.29,396.6239,396.5248,793.16,684.152,803.6472.09

    Jan-07211,034.469,536.22,704.48,690.22283,275.0291,965.28,116.712,674.47104.01

    Feb-07214,252.269,028.73,067.0286,347.9286,347.98,927.172,876.19127.79

    Monthly Turnover (Rs. Crore)]

    Feb-05

    Mar-05

    Apr-05

    May-05

    Jun-05

    Jul-05

    Aug-05

    Sep-05

    Oct-05

    Nov-05

    Dec-05

    Jan-06

    Feb-06

    Mar-06

    Apr-06

    May-06

    Jun-06

    Jul-06

    Aug-06

    Sep-06

    Oct-06

    Jan-05

    Nov-06

    Dec-06

    Jan-07

    Feb-07

    Financial Year R&D

    Yearly Turnover (Rs.crores)

    MCXNCDEXNMCEOthersTotal (excl. Others)Total (incl. Others)

    2005633,335.9882,220.812,110.975,915.11,527,667.51,603,582.6

    20062,025,665.01,243,327.7111,404.7104,741.13,380,397.33,485,138.4

    2007425,286.6138,564.95,771.48,690.2569,622.9578,313.1

    Yearly Turnover (Rs.crores)

    2005

    2006

    2007

    Monthly (FMC)

    Financial Year Turn Over (Rs.Crores)

    MCXNCDEXNMCEOthers

    2005-2006961,646.31,066,688.018,386.6108,024.3

    2006-20072,047,683.01,082,630.9107,445.181,322.1

    Financial Year Turn Over (Rs.Crores)

    2005-2006

    2006-2007

    Yearly (FMC)

    Monthly Turn Over (Rs.crores)

    MCXNCDEXNMCEOthersTotal (excl. Others)Total (incl. Others)

    Feb-05

    Mar-05

    Apr-0526,493.358,129.9886.06,718.285,509.292,227.4

    May-0530,026.154,460.2990.57,295.885,476.792,772.4

    Jun-0541,989.566,965.11,003.28,578.2109,957.8118,535.9

    Jul-0548,666.775,999.51,110.06,740.0125,776.1132,516.2

    Aug-0561,339.299,728.21,142.07,505.6162,209.4169,715.0

    Sep-0581,251.1103,927.9869.58,872.3186,048.5194,920.7

    Oct-0576,310.0101,561.1833.010,616.2178,704.0189,320.2

    Nov-0576,234.8101,860.1776.89,846.1178,871.6188,717.8

    Dec-05115,989.9104,885.8979.09,742.8221,854.7231,597.5

    Jan-06128,286.683,329.61,224.19,165.7212,840.3222,006.0

    Feb-06114,458.5101,448.63,206.910,945.5219,113.9230,059.5

    Mar-06160,523.4114,482.65,299.911,997.9280,306.0292,303.9

    Apr-06178,661.1112,401.66,588.78,756.1297,651.4306,407.5

    May-06202,701.6150,085.211,036.19,217.8363,822.9373,040.7

    Jun-06156,285.1113,325.313,951.16,069.5283,561.4289,630.9

    Jul-06174,663.793,826.416,534.37,382.2285,024.4292,406.6

    Aug-06179,076.599,179.816,129.28,145.1294,385.5302,530.5

    Sep-06190,128.0117,471.420,193.27,789.2327,792.6335,581.7

    Oct-06176,185.2194,125.112,512.26379.64282,822.5289,202.1

    Nov-06196,998.293,160.83,010.19495.87293,169.1302,665.0

    Dec-06167,103.770,490.61,776.19396.577239,370.4248,766.9

    Jan-07211,035.9569,536.232,704.378,690.22283,276.6291,966.8

    Monthly Turn Over (Rs.crores)

    Feb-05

    Jan-06

    Jan-07

    Financial Year FMC

    Yearly Turnover (Rs.Crores)

    MCXNCDEXNMCEOthersTotal (excl. Others)Total (incl. Others)

    2005558,300.5767,517.68,589.975,915.11,334,408.01,410,323.1

    20062,025,071.51,243,326.9111,461.8104,741.13,379,860.23,484,601.3

    2007211035.9569536.232704.378690.22283,276.6291,966.8

    Yearly Turnover (Rs.Crores)

    2005

    2006

    2007

    Financial Year Turn Over (Rs.Crores)

    MCXNCDEXNMCEOthers

    2005-2006961,569.01,066,778.418,320.7108,024.3

    2006-20071,832,838.91,013,602.3104,435.381,322.1

    Financial Year Turn Over (Rs.Crores)

    2005-2006

    2006-2007

  • Market Share of Global Bullion Exchanges (2006)

    Chart1

    11831577

    1947218

    10447404

    15917584

    22228198

    Gold Global Market Share (in Contracts Traded - 2006)

    Gold

    Gold2006

    ContractsVolume (MT)

    MCX11,831,57710,204.5

    Others1,947,2181,902.2

    CBOT10,447,40428,282.1

    COMEX15,917,58449,503.7

    TOCOM22,228,19822,228.2

    Others: NCDEX (2)+DGCX+NMCE(2)

    NCDEX1,328,64419,708

    DGCX497,641

    NMCE70,95030,275

    Gold

    0

    0

    0

    0

    0

    Gold Global Market Share (in Contracts Traded - 2006)

    Silver

    0

    0

    0

    0

    0

    Gold Global Market Share (Volume in MT - 2006)

    Copper

    Silver2006

    ContractsVolume (MT)

    MCX12,496,828300,672.1

    Others2,001,38459,664.6

    COMEX5,433,063844,841.3

    CBOT1,755,653204,934.6

    TOCOM858,15330,621.4

    Others: NCDEX (2)+DGCX+NMCE(2)

    NCDEX1,909,06817,541

    DGCX55,989

    NMCE18,786

    CBOT1,208,471547,182

    Copper

    0

    0

    0

    0

    0

    Silver Global Market Share (in Contracts Traded - 2006)

    N Gas

    0

    0

    0

    0

    0

    Silver Global Market Share (Volume in MT - 2006)

    Crude Oil

    Copper2006

    ContractsVolume (MT)

    MCX5,293,9645,293,964

    LME18,864,246471,613,205

    Others24,80424,804

    COMEX3,281,31237,177,265

    Crude Oil

    0

    0

    0

    0

    Copper Global Market Share (in Contracts Traded - 2006)

    0

    0

    0

    0

    Copper Global Market Share (Volume in MT - 2006)

    N Gas2006

    ContractsVolume in mmBtu

    MCX1,953,756976,878,000

    NYMEX23,029,988230,299,880,000

    ICE602,1259,031,875,000

    0

    0

    0

    Natural Gas Global Market Share (in Contracts Traded - 2006)

    0

    0

    0

    Natural Gas Global Market Share (Volume in mmBtu - 2006)

    Crude Oil2006

    ContractsVolume (BBL)

    MCX4,571,662457,166,200

    Others136,35513,635,500

    NYMEX71,054,64571,054,645,000

    TOCOM1,961,190835,466,940

    ICE73,018,73173,018,731,000

    0

    0

    0

    0

    0

    Crude Oil Global Market Share (in Contracts Traded - 2006)

    0

    0

    0

    0

    0

    Crude Oil Global Market Share (Volume in Barrels - 2006)

    Chart3

    12496828

    2001384

    5433063

    1755653

    858153

    Silver Global Market Share (in Contracts Traded - 2006)

    Gold

    Gold2006

    ContractsVolume (MT)

    MCX11,831,57710,204.5

    Others1,947,2181,902.2

    CBOT10,447,40428,282.1

    COMEX15,917,58449,503.7

    TOCOM22,228,19822,228.2

    Others: NCDEX (2)+DGCX+NMCE(2)

    NCDEX1,328,64419,708

    DGCX497,641

    NMCE70,95030,275

    Gold

    0

    0

    0

    0

    0

    Gold Global Market Share (in Contracts Traded - 2006)

    Silver

    0

    0

    0

    0

    0

    Gold Global Market Share (Volume in MT - 2006)

    Copper

    Silver2006

    ContractsVolume (MT)

    MCX12,496,828300,672.1

    Others2,001,38459,664.6

    COMEX5,433,063844,841.3

    CBOT1,755,653204,934.6

    TOCOM858,15330,621.4

    Others: NCDEX (2)+DGCX+NMCE(2)

    NCDEX1,909,06817,541

    DGCX55,989

    NMCE18,786

    CBOT1,208,471547,182

    Copper

    0

    0

    0

    0

    0

    Silver Global Market Share (in Contracts Traded - 2006)

    N Gas

    0

    0

    0

    0

    0

    Silver Global Market Share (Volume in MT - 2006)

    Crude Oil

    Copper2006

    ContractsVolume (MT)

    MCX5,293,9645,293,964

    LME18,864,246471,613,205

    Others24,80424,804

    COMEX3,281,31237,177,265

    Crude Oil

    0

    0

    0

    0

    Copper Global Market Share (in Contracts Traded - 2006)

    0

    0

    0

    0

    Copper Global Market Share (Volume in MT - 2006)

    N Gas2006

    ContractsVolume in mmBtu

    MCX1,953,756976,878,000

    NYMEX23,029,988230,299,880,000

    ICE602,1259,031,875,000

    0

    0

    0

    Natural Gas Global Market Share (in Contracts Traded - 2006)

    0

    0

    0

    Natural Gas Global Market Share (Volume in mmBtu - 2006)

    Crude Oil2006

    ContractsVolume (BBL)

    MCX4,571,662457,166,200

    Others136,35513,635,500

    NYMEX71,054,64571,054,645,000

    TOCOM1,961,190835,466,940

    ICE73,018,73173,018,731,000

    0

    0

    0

    0

    0

    Crude Oil Global Market Share (in Contracts Traded - 2006)

    0

    0

    0

    0

    0

    Crude Oil Global Market Share (Volume in Barrels - 2006)

  • Market Share of Global Energy Exchanges 2006

    Chart7

    1953756

    23029988

    602125

    Natural Gas Global Market Share (in Contracts Traded - 2006)

    NYMEX90%

    Gold

    Gold2006

    ContractsVolume (MT)

    MCX11,831,57710,204.5

    Others1,947,2181,902.2

    CBOT10,447,40428,282.1

    COMEX15,917,58449,503.7

    TOCOM22,228,19822,228.2

    Others: NCDEX (2)+DGCX+NMCE(2)

    NCDEX1,328,64419,708

    DGCX497,641

    NMCE70,95030,275

    Gold

    0

    0

    0

    0

    0

    Gold Global Market Share (in Contracts Traded - 2006)

    Silver

    0

    0

    0

    0

    0

    Gold Global Market Share (Volume in MT - 2006)

    Copper

    Silver2006

    ContractsVolume (MT)

    MCX12,496,828300,672.1

    Others2,001,38459,664.6

    COMEX5,433,063844,841.3

    CBOT1,755,653204,934.6

    TOCOM858,15330,621.4

    Others: NCDEX (2)+DGCX+NMCE(2)

    NCDEX1,909,06817,541

    DGCX55,989

    NMCE18,786

    CBOT1,208,471547,182

    Copper

    0

    0

    0

    0

    0

    Silver Global Market Share (in Contracts Traded - 2006)

    N Gas

    0

    0

    0

    0

    0

    Silver Global Market Share (Volume in MT - 2006)

    Crude Oil

    Copper2006

    ContractsVolume (MT)

    MCX5,293,9645,293,964

    LME18,864,246471,613,205

    Others24,80424,804

    COMEX3,281,31237,177,265

    Crude Oil

    0

    0

    0

    0

    Copper Global Market Share (in Contracts Traded - 2006)

    0

    0

    0

    0

    Copper Global Market Share (Volume in MT - 2006)

    N Gas2006

    ContractsVolume in mmBtu

    MCX1,953,756976,878,000

    NYMEX23,029,988230,299,880,000

    ICE602,1259,031,875,000

    0

    0

    0

    Natural Gas Global Market Share (in Contracts Traded - 2006)

    0

    0

    0

    Natural Gas Global Market Share (Volume in mmBtu - 2006)

    Crude Oil2006

    ContractsVolume (BBL)

    MCX4,571,662457,166,200

    Others136,35513,635,500

    NYMEX71,054,64571,054,645,000

    TOCOM1,961,190835,466,940

    ICE73,018,73173,018,731,000

    0

    0

    0

    0

    0

    Crude Oil Global Market Share (in Contracts Traded - 2006)

    0

    0

    0

    0

    0

    Crude Oil Global Market Share (Volume in Barrels - 2006)

    Chart5

    4571662

    136355

    71054645

    1961190

    73018731

    Crude Oil Global Market Share (in Contracts Traded - 2006)

    Gold

    Gold2006

    ContractsVolume (MT)

    MCX11,831,57710,204.5

    Others1,947,2181,902.2

    CBOT10,447,40428,282.1

    COMEX15,917,58449,503.7

    TOCOM22,228,19822,228.2

    Others: NCDEX (2)+DGCX+NMCE(2)

    NCDEX1,328,64419,708

    DGCX497,641

    NMCE70,95030,275

    Gold

    0

    0

    0

    0

    0

    Gold Global Market Share (in Contracts Traded - 2006)

    Silver

    0

    0

    0

    0

    0

    Gold Global Market Share (Volume in MT - 2006)

    Copper

    Silver2006

    ContractsVolume (MT)

    MCX12,496,828300,672.1

    Others2,001,38459,664.6

    COMEX5,433,063844,841.3

    CBOT1,755,653204,934.6

    TOCOM858,15330,621.4

    Others: NCDEX (2)+DGCX+NMCE(2)

    NCDEX1,909,06817,541

    DGCX55,989

    NMCE18,786

    CBOT1,208,471547,182

    Copper

    0

    0

    0

    0

    0

    Silver Global Market Share (in Contracts Traded - 2006)

    N Gas

    0

    0

    0

    0

    0

    Silver Global Market Share (Volume in MT - 2006)

    Crude Oil

    Copper2006

    ContractsVolume (MT)

    MCX5,293,9645,293,964

    LME18,864,246471,613,205

    Others24,80424,804

    COMEX3,281,31237,177,265

    Crude Oil

    0

    0

    0

    0

    Copper Global Market Share (in Contracts Traded - 2006)

    0

    0

    0

    0

    Copper Global Market Share (Volume in MT - 2006)

    N Gas2006

    ContractsVolume in mmBtu

    MCX1,953,756976,878,000

    NYMEX23,029,988230,299,880,000

    ICE602,1259,031,875,000

    0

    0

    0

    Natural Gas Global Market Share (in Contracts Traded - 2006)

    0

    0

    0

    Natural Gas Global Market Share (Volume in mmBtu - 2006)

    Crude Oil2006

    ContractsVolume (BBL)

    MCX4,571,662457,166,200

    Others136,35513,635,500

    NYMEX71,054,64571,054,645,000

    TOCOM1,961,190835,466,940

    ICE73,018,73173,018,731,000

    0

    0

    0

    0

    0

    Crude Oil Global Market Share (in Contracts Traded - 2006)

    0

    0

    0

    0

    0

    Crude Oil Global Market Share (Volume in Barrels - 2006)

  • MCX Comdex Vs Global Commodity IndicesCorrelation of COMDEX with: CRB Index 33.71% Rogers com Index83.24% DJAIG com Index 48.70% GSCI spot Index 69.24%

    Chart1

    1586.83306.213048.5801154.347371.6844

    1577.28303.733024.49152.506366.5692

    1579.61304.182984.77153.7375.8348

    1581.36302.483023.51152.39372.4492

    1598.27304.282994.49154.534382.9833

    1601.62304.963047.29154.137379.8803

    1579.42306.983031.8799156.053383.0029

    1613.88308.593063.1101157.466387.4784

    1630.81310.983091.96159.852395.5577

    1638.72313.763149.22161.403399.0615

    1638.7311.033181.24159.633393.8229

    1621.43309.583149.46158.88390.415

    1638.16311.453122.0601159.072395.7464

    1637.58312.243146.2159.839396.6528

    1644.06311.373168.1799158.053398.2278

    1616.35304.483156.8601154.843387.125

    1607.95303.13082.79154.633382.9037

    1598.493003065.2152.885379.7879

    1608.67303.863026.8301154.659390.7274

    1620.4309.763071.1299158.452398.5795

    1641.12313.323131.8701160.175408.2864

    1628.14312.013167.01159.159404.5506

    1646.3309.93157.3301158.137399.8552

    1628.76308.93127.73157.893396.2149

    1647.1311.683117.6799159.658405.7446

    1644.44311.543146.3501160.071403.4703

    1615.98309.113140.8201159.318394.8434

    1621.43309.573109.6499159.56396.7495

    1618.13306.933123.49158.098392.0871

    1622.46304.793101.4299156.541391.8712

    1621.99303.373081.03156.146389.0317

    1604.76300.763064.72154.107383.4584

    1621.48304.253031.6699155.679390.415

    1630.34305.293074.95155.655391.0198

    1630.34306.133078.71156.098392.8779

    1630.54307.13084.6201156.853394.3213

    1630.54310.533091.1299158.781398.7561

    1652.83123127.95159.33401.999

    1660.98314.723138.3161.078408.7134

    1668.75317.573171.77162.875411.846

    1668.01315.323188.78161.579406.9561

    1667.08315.733160.75161.833409.8105

    1668.67316.673164.5601162.243414.7617

    1683.38318.253173.8899162.77422.4249

    1678.45314.673201.01161.024418.8785

    1698.71319.943167.6299164.042430.5452

    1718.54322.593223.54165.804437.7988

    1723.05322.963255.3401166.111441.011

    1723.05318.913261.3999164.525437.8916

    1716.78319.593228.9199165.235438.2619

    1685.4313.683225.22162.308424.1978

    1669.35311.753156.8401160.824420.722

    1703.97315.183150.3799162.583429.9886

    1724.8317.123193.97164.467432.3023

    1720.23317.563208.8999164.591432.8727

    1735.36320.023207.6299165.762441.0927

    1739.57318.333237.25164.821441.264

    1749.33317.13227.53164.393436.0066

    1747.9323.233202.1699168.613448.6483

    1784.13331.193251.21172.158467.568

    1781.53329.423327.2170.816465.1507

    1795.45336.23305.48174.046475.2528

    1780.91331.353358.02171.975462.1123

    1754.93329.363312.4099171.534454.5915

    1740.74324.193293.5901168.655443.8634

    1718.42324.713242.05169.175444.4716

    1715.58323.323243.9099168.804442.6209

    1707.95319.983235.52167.413435.7946

    1701.573183209.1201166.253435.7552

    1718.83321.663195.6699168.284447.6102

    1720.75319.713234.6699167.686445.6251

    1711.85315.393212.1799165.901435.3258

    1749.72327.413168.71174.1464.742

    1741.24325.163292.01172.666457.287

    1760.11327.043265.73173.801461.4078

    1744.49328.293296.1299174.669463.3175

    1716.87323.113307.1699171.793450.6466

    1737.47326.933254.22174.487462.1043

    1729.62327.033291.3999173.923460.5641

    1756.32333.333281.0801178.405462.1043

    1754.9334.853325.9299179.069473.6403

    1746.45332.973344.8401178.249469.5595

    1753.37333.223338.77178.816466.9965

    1731.46329.723335.73177.75460.7094

    1733.82328.23294.9299177.062454.9628

    1722.12323.933278.3799173.7442.7305

    1730.45325.213238.6399173.764444.3274

    1736.71325.963251.3701173.178443.5313

    1762.61330.463255.1599176.283453.8521

    1771.23332.13299.6699177.011456.3618

    1757.23328.923321.46174.812450.1537

    1749.62327.643285.1599174.087445.6806

    1753.91332.453269.6001177.307455.8552

    1776.29329.183320.5701174.79446.4003

    1757.57326.753280.3101173.537442.1762

    1750.96322.363251.8899170.886432.5702

    1740.94322.513212.04170.358433.6375

    1744.43321.363211.6299169.68430.7116

    1772.67329.193200.04175.49448.0824

    1768.56324.233273.6699172.665438.7688

    1767.1323.413222.0701171.646437.5439

    1763.95322.133222.46169.945434.9742

    1748.54316.293215.54166.516422.8763

    1735.6315.833166.3601165.691421.0456

    1741.57316.453164.4299165.413418.4523

    1756.86321.293166.53167.611427.8506

    1765318.773224.27166.267421.8342

    1758.89317.453197.9399167.078421.2885

    1859.1318.243179.6499167.235423.744

    1765.42316.543188.51166.314422.8481

    1746.66314.533171.1499164.703417.5402

    1746.78315.593144.9399166.126420.3751

    1750.27315.083155.6101166.01420.928

    1753.7312.733151.79165.134416.4418

    1765.58315.313124.4399167.519423.7684

    1770.12313.213148.24166.055417.2083

    1753.7312.743122.3501164.42413.8471

    1770.12313.633117.71164.272414.8323

    1782.74315.53126.8701165.072420.0845

    1778.29314.383148.03164.601417.5077

    1784.03314.673148.03164.601416.6073

    1786.03312.723137.8201163.708410.1535

    1781.84311.233124.96163.358407.7444

    1775.78314.273106.8166.402415.9086

    1802.9320.713135.76169.94425.4086

    1825.74323.383189.5901172.701434.2323

    1856.52325.593216.9099173.412436.1446

    1854.21324.293248.1299172.266433.5781

    1851.92324.663234.26172.776432.781

    1869.55330.443227177.651447.4841

    1869.55327.813279.9399175.291440.0692

    1868.95333.73250.6201178.107451.5245

    1861.05335.623311.7180.24457.5468

    1835.54331.393323.54177.051451.8871

    1831.36328.613291.6201174.131443.4035

    1798.4326.363259.49173.426434.1878

    1783.72326.093227.21174.284431.767

    1777.01325.813219.25174.173432.1714

    1776.68326.533214.6599174.92435.4609

    1789.58326.763227.75172.558428.6775

    1793.48326.313233.8101171.313425.4519

    1801.45324.593235.6599168.383417.0102

    1838.25329.323227.1201171.023426.7624

    1843.27329.323277.96169.863427.137

    1846.11331.833273.5701171.149431.7214

    1888.55336.373300.74171.829438.1793

    1890.49338.493368.6299171.829438.5544

    1872.29335.83386.1399169.029432.1028

    1895.24339.473351.52170.352437.9121

    1889.25337.333383.6399169.135433.589

    1889336.453365.8999168.582432.5556

    1889.19335.713358.71167.969432.8849

    1888.64334.713364.3201167.005433.032

    1893.43336.843363.1299167.865434.4162

    1915.6342.453384.52169.589446.9045

    1911.69338.83436.79167.339440.6998

    1925.27341.343400.6699168.868446.4057

    1938.57345.153434.27170.431454.6498

    1944.04344.783470.1699169.898450.4604

    1936.98343.723477.52170.141447.0618

    1936.98342.523471.73170.115441.094

    1936.98343.463466.77169.926442.1201

    1933.86346.963472.5601171.589449.0491

    1940.76350.063511.45174.224456.6674

    1938.99348.663541.45173.669453.9183

    1949.45344.593533.6299171.409445.3492

    1916.8343.143496.6399170.83436.2695

    1906.97345.93478.46172.555440.7315

    1929.9343.253512.04170.612435.9922

    1895.35336.433494.0601167.042426.5971

    1892.62336.073416.79166.841425.3711

    1903.56336.963406.95167.731426.3597

    1878.06331.63430.1799164.285420.8337

    1860.49327.573367.79162.384418.4348

    1857.77325.053329.01161.839412.2063

    1847.21320.753305.8701159.726405.4679

    1844.21322.63256.9399160.758409.4561

    1865.63326.153282.5801162.515416.1721

    1882.46326.693329.8101162.515416.1721

    1879.82330.263329.8101165.479425.1051

    1874.95326.033384.8501163.027415.7834

    1864.06324.113332.4099162.25415.2684

    1899.85328.93311.8401163.902423.9424

    1879.74320.993376.1001160.645411.9879

    1879.74324.363313.8162.234415.8627

    1894.03324.843339.0601162.34418.3735

    1894.03329.213346.8301164.679427.0493

    1912.12331.343405.8701165.499429.6876

    1902.35325.253422.77162.428420.1013

    1896.97321.443361.49160.483415.7959

    1872.59317.873324.77158.78410.963

    1890.22319.933280.5701159.626415.987

    1882.35319.423303.96159.846415.1894

    1891.47322.993298.3999161.161425.4

    1918.8326.973335.3799162.625433.8582

    1916.68325.633376.1599161.976429.2773

    1922.66327.553351.22162.38433.8997

    1928.98325.833370.72162.186430.4285

    1914.72320.643358.1699159.927420.0251

    1915.15322.773295.98160.766422.8134

    1925.44320.273314.5801159.88419.3077

    1949.9325.943293.75162.645430.2073

    1961.56326.983357.49162.972432.0082

    1987.29327.713368.4399163.24431.2247

    2007.88331.663377.05164.583439.8039

    2033.35332.923423.1001165.132442.6548

    2069.14337.313435.1101167.351447.3778

    2058.38333.183478.1599165.194442.5189

    2089.03335.613445.1201166.576445.1778

    2087.37332.433463.3799164.723441.249

    2096.61336.123438.51166.745446.652

    2121.57339.353472.26168.552451.4842

    2120.84337.183510.23167.195448.5624

    2184.01339.993491.0801169.259458.0594

    2191.66340.483541.3999170.021461.9484

    2201.69340.633554.9299170.29464.1028

    2208.52342.323552.3701171.242469.2073

    2273.17348.463568.46173.946477.305

    2310.81354.893617.5801177.571487.8255

    2375.65357.293679.04178.927492.8984

    2258.64353.943710.6899176.811488.0484

    2332.87358.593671.9199180.014496.184

    2269.53352.563737.1699176.846485.9152

    2314.45352.933674.1599177.869485.1009

    2336.73352.573681.6699177.728481.2292

    2313.54345.693670.73173.652470.9126

    2370.3349.893609.3175.767474.7862

    2396.08355.223655.8401178.183484.0205

    2419.85357.023714.05178.796488.9251

    2394.89352.23732.9299177.013477.2435

    2375.11349.893677.52177.634469.8685

    2380.71351.923645178.907473.9134

    2367.4350.353667.79178.138471.9615

    2420.99354.933652.3999180.895479.9045

    2438.63360.213709.3899183.996491.8419

    2502.07365.353765.48187.628500.5344

    2479.22361.753831185.293492.0557

    2387.9352.063795.3601179.812475.0561

    2399.07353.23688.3999180.959475.8455

    2356.65349.383702.0701179.558470.4343

    2330.33348.653681.8501178.632472.0585

    2304.98338.643674.8701174.572464.9891

    2269.49344.213609.27176.096469.941

    2348.21352.373636.49180.998482.026

    2290.26342.513723.72175.537467.5735

    2324.54346.353625.1499177.208475.1052

    2330.73347.823665.72179.299477.6185

    2354.51347.883690.48178.652478.9607

    2321344.873692.1699176.679474.5546

    2293.3343.123643.73174.959471.2759

    2315.61350.053606.9399178.913482.144

    2337.08348.783679.6699178.091481.5269

    2313.69344.783677.48175.267478.0077

    2304.4343.223632.4099174.91472.0396

    2242.88339.233612.6201171.597468.7498

    2254.8340.093564.3101171.217475.5608

    2234.63338.393577.1599170.412471.1024

    2126.26330.233558.22165.352459.928

    2110.16332.033462.75165.905462.5241

    2145.46337.563465.98169.35468.9455

    2148.87339.223506.0801170.515469.6056

    2114.72333.573518.4399167.306462.7053

    2134.77333.13470.53166.751461.1647

    2160.98336.753472.8401168.284467.2576

    2152.85336.133514.5701167.49469.5483

    2151.83335.043510.1499166.766468.0833

    2171.25337.373500.8899168.088472.7146

    2179.4337.073529.3999167.758473.4543

    2182.15338.193533.78168.139473.4662

    2205.84342.33537.4299170.591481.9176

    2248.21346.393591.1699173.235484.6752

    2272.73348.133632.46174.031485.4299

    2267.21348.153632.46174.031485.4178

    2290.13349.863632.46174.543489.0818

    2311.71352.863667.1699177.149490.9003

    2294.03348.053703.3701174.966484.7144

    2260.03346.673662.6201174.935482.0139

    2305.71350.283656.8601177.22488.6695

    2321.84352.623704.48178.204494.3539

    2353.04355.913729.9299178.888504.9732

    2379.7357.213750.0701179.962509.6343

    2347.01347.313766.8899175.377496.6747

    2309.6341.853679.8899172.435488.4339

    2321.63342.913626.8701173.282486.4663

    2311.25340.523625.29171.788484.1146

    2285.94339.613608.1201170.89484.0677

    2305.98342.713600.22172.576489.186

    2298.89340.743627.21172.254483.9408

    2309.84341.953606.05172.361487.1927

    2322.76344.383606.5701173.655491.6549

    2319.66343.833637.24174.33486.615

    2334.33349.833622.5701178.032498.2475

    2360.58349.563683.0801177.417498.4192

    2400.53353.693691.46179.534505.6299

    2385.23349.933732.8701176.284498.6619

    2393.01350.053696.8799177.484496.9996

    2413.65351.953703.5901177.227504.9937

    2412.75350.733737.8799176.573503.3722

    2434.23353.73713.55178.835506.7766

    2388.36348.033735.1699176.108495.2756

    2379.85344.533669.99173.554495.5996

    2367.83338.823638.0901171.838487.2605

    2367.83338.763593.02172.09485.8219

    2362.81337.543595.71172.025482.2413

    2312.38331.693579.3601169.017471.6709

    2318.94332.323512.9099169.855475.1176

    2348.8335.53529.03171.578480.5196

    2345.32336.673570.48172.502482.3286

    2333.63334.713571.8799171.712475.5214

    2338.56336.123550.1101172.386479.1032

    2355.93336.263569.5801172.637481.0937

    2322.1329.693575.95170.579468.4148

    2316.4327.733521.5701168.943464.8491

    2324.98327.093495.1799168.868464.2654

    2335.37329.023512.9299170.876465.868

    2333.07325.423536.75169.307459.0111

    2328.38327.083502.5901170.647457.1419

    2319.05325.433507.73170.468453.2579

    2284.7323.613487.6699169.043450.2272

    2250.06320.393471.79166.966446.4114

    2190.58313.733430.9399162.656441.6224

    2169.87310.713364.8301161.678437.2396

    2168.59311.273328.8201161.343438.3885

    2141.43307.053326.49158.745433.7252

    2127.29306.323292.05157.454431.5829

    2174.4308.413281.78159.296434.9729

    2125.16303.043313.5701157.621426.5124

    2114.85300.673266.98156.587418.3223

    2105.75304.353233.3501158.82423.569

    2105.61300.863277.8101157.578418.0164

    2120.74300.713243.9299157.217418.9314

    2121.87301.713242.3601157.983419.1971

    2141.25304.323254.6699158.742426.0038

    2172.79305.143290.8101159.707426.6299

    2151.88305.583312.48159.957428.0532

    2152.3301.363308.72158.734420.1734

    2085.25295.133268.78156.075409.6788

    2067297.113198.3601156.873413.8104

    2096.01300.593223.3999159.489420.1845

    2100.19300.23261.3401160.373422.7788

    2129.75303.563262.49162.841430.2867

    2101.89299.43314.1299161.105426.4998

    2096.29297.813273.77161.715426.8494

    2091.88299.733280.1699162.136429.8947

    2122.68303.393299.6499164.289434.761

    2145.9308.563340.8167.853444.4365

    2118.39308.163406.01166.848440.2056

    2104.15304.523382.3301165.529434.0706

    2121.4307.973337.6599167.229439.8392

    2109.35305.743378.49166.337435.2703

    2090.44306.13346.1001166.511432.3502

    2099.47307.543348.9199167.252435.888

    2130312.773370.7169.466447.007

    2150.91311.783431.47169.145441.2801

    2148.99312.373409.8401169.786441.8557

    2137.45306.223425.97167.248428.4274

    2130.22305.873359.75166.817429.2243

    2135.65306.353350.3799167.523429.5621

    2151.89307.643361.8999168.857428.2353

    2157.9309.913363.9399169.73434.0434

    2177.7311.723400.01170.182437.102

    2163.78311.253429.6001170.593436.3273

    2154.7313.233414.02170.544442.2844

    2179.78317.933432.24172.391452.519

    2179.72310.743480.1799168.212444.1614

    2167.56308.033407.3301167.244441.7837

    2169.39308.433374.0901167.805441.1145

    2185.27310.853370.3201168.712445.2829

    2162.13304.853391.73166.163434.5642

    2146.32305.793325.6299166.676436.957

    2145.31306.33330.0701167.458437.0652

    2161.64310.323343.54169.788444.9994

    2157.38307.723394.75168.804438.527

    2169.18307.913366.4399168.804438.5385

    2196.22308.973366.4399168.804441.9049

    2228.1313.013366.4399172.375446.7941

    2246.07314.973428.73172.194450.1268

    2258.97318.173443.0901173.206458.6238

    2284.78321.533487.2175.214463.6554

    2291.55321.233533.25174.59462.4186

    2291.56315.383535.8301171.512453.1253

    2283.66316.433492.5601172.293453.1919

    2266.12313.063495.8169.801449.2451

    2254.94313.083452.6699169.65449.4975

    2260.01312.383448.4199169.092448.1454

    2256.23312.083436.48169.062445.4483

    2246.55310.833433.9399168.226444.4922

    2238.94311.553416.75168.354446.8475

    2252.92314.43414.27169.671452.5031

    2228.2313.343452.8701168.323453.041

    2186.88310.393447.8301166.574445.0828

    2198.97312.463409.2167.526447.9419

    2202.8311.013434.26166.552447.6214

    2171.8309.113430.46165.835443.0892

    2174.37308.863410.26166.478442.2944

    2175.74306.453410.26165.755433.8891

    2181.95306.043397.72165.756431.0524

    2185.15306.713387.51166.271432.3527

    2189.62307.263397.29166.509433.6464

    2197.37307.263397.29166.509433.6464

    2192.02307.083401.3799166.509432.1334

    2136.89298.493288.15161.172417.2262

    2114.8292.613210.75159.21405.258

    2075.31291.113204.32157.954406.3544

    2084.11291.113204.32157.954406.3544

    2081.43290.733193.96157.068406.8246

    2088.85289.513169.8155.88406.0539

    2068.43289.333154.27157.304403.3683

    2052.27286.063122.09156.8395.4155

    2058.04290.623176.4159.561402.4066

    2069.07290.623176.4159.561402.4066

    2063.37290.623176.4159.561402.4066

    2034.31287.213127.18158.288394.7586

    2047.49289.093160.74158.613397.9569

    2028.98285.883128.62157.369392.6523

    2055.72290.483175.48160.405402.5814

    2058.76290.483175.48160.405402.5814

    2061.8289.983169.5161.297402.5017

    2085.19296.653251.57164.88414.7364

    2100.46296.093242.81163.969414.4582

    2113.03293.493220.07162.378408.761

    2123.76295.863241.39163.551414.3107

    2112.03290.923183.69160.598405.1972

    2126.09298.33260.92164.699420.6653

    2140.64301.223300.06166.094427.2178

    2156.03299.223274.53164.818422.5294

    2131.75301.333297.39165.106427.7103

    2152.07301.333297.39165.106427.7103

    2159.07301.193293.67165.363427.6214

    2157.51301.073290.31165.476427.7516

    2147.58298.873260.57164.504423.6473

    2147.18303.453315.87166.364433.6403

    2179.78305.193336.14167.39436.6234

    2173.66305.193336.14167.39436.6234

    2136.46299.693270.26163.863424.8485

    2159.96304.493327.75166.691434.3634

    2150.63301.923294.72165.687428.0055

    2143.7303.83310.37166.748429.174

    2163.77306.713352.54168.27436.485

    2163.12306.713352.54168.27436.485

    2162.81306.713352.54168.27436.485

    2137.44303.463322.76167.116431.4865

    2182.44308.363379.38169.837439.4146

    2212.4312.853433.99172.186446.8416

    2229.49314.633453.33173.388450.0318

    2242.45314.633453.33173.388450.0318

    2267.33315.13461.66173.503450.9571

    2261.86313.263441.31171.981449.278

    2225.98312.393436.41171.013448.4914

    COMDEX & Rogers Commodity Index

    CRB, DJAIG & GSCI Spot Index

    COMDEX

    DateCOMDEX

    6/7/051586.83

    6/8/051577.28

    6/9/051579.61

    6/10/051581.36

    6/11/051579.41

    6/13/051598.27

    6/14/051601.62

    6/15/051579.42

    6/16/051613.88

    6/17/051630.81

    6/18/051637.28

    6/20/051638.72

    6/21/051638.70

    6/22/051621.43

    6/23/051638.16

    6/24/051637.58

    6/25/051637.24

    6/27/051644.06

    6/28/051616.35

    6/29/051607.95

    6/30/051598.49

    7/1/051608.67

    7/2/051616.49

    7/4/051617.71

    7/5/051620.40

    7/6/051641.12

    7/7/051628.14

    7/8/051646.30

    7/9/051641.61

    7/11/051628.76

    7/12/051647.10

    7/13/051644.44

    7/14/051615.98

    7/15/051621.43

    7/16/051621.91

    7/18/051618.13

    7/19/051622.46

    7/20/051621.99

    7/21/051604.76

    7/22/051621.48

    7/23/051627.39

    7/25/051630.34

    7/26/051630.34

    7/27/051630.54

    7/29/051652.80

    7/30/051650.79

    8/1/051660.98

    8/2/051668.75

    8/3/051668.01

    8/4/051667.08

    8/5/051668.67

    8/6/051671.94

    8/8/051683.38

    8/9/051678.45

    8/10/051698.71

    8/11/051718.54

    8/12/051723.05

    8/13/051723.05

    8/16/051716.78

    8/17/051685.40

    8/18/051669.35

    8/19/051703.97

    8/20/051712.09

    8/22/051724.80

    8/23/051720.23

    8/24/051735.36

    8/25/051739.57

    8/26/051749.33

    8/27/051741.35

    8/29/051747.90

    8/30/051784.13

    8/31/051781.53

    9/1/051795.45

    9/2/051780.91

    9/3/051780.40

    9/5/051758.67

    9/6/051754.93

    9/7/051740.74

    9/8/051718.42

    9/9/051715.58

    9/10/051717.81

    9/12/051707.95

    9/13/051701.57

    9/14/051718.83

    9/15/051720.75

    9/16/051711.85

    9/17/051708.41

    9/19/051749.72

    9/20/051741.24

    9/21/051760.11

    9/22/051744.49

    9/23/051716.87

    9/24/051739.70

    9/26/051737.47

    9/27/051729.62

    9/28/051756.32

    9/29/051754.90

    9/30/051746.45

    10/1/051753.12

    10/3/051753.37

    10/4/051731.46

    10/5/051733.82

    10/6/051722.12

    10/7/051730.45

    10/8/051732.31

    10/10/051736.71

    10/11/051762.61

    10/12/051771.23

    10/13/051757.23

    10/14/051749.62

    10/15/051753.91

    10/17/051753.91

    10/18/051776.29

    10/19/051757.57

    10/20/051750.96

    10/21/051740.94

    10/22/051745.21

    10/24/051744.43

    10/25/051772.67

    10/26/051768.56

    10/27/051767.10

    10/28/051763.95

    10/29/051766.22

    10/31/051748.54

    11/1/051735.60

    11/2/051741.57

    11/3/051756.86

    11/4/051765.00

    11/5/051763.62

    11/7/051758.89

    11/8/051859.10

    11/9/051765.42

    11/10/051746.66

    11/11/051746.78

    11/12/051750.01

    11/14/051750.27

    11/15/051753.70

    11/16/051765.58

    11/17/051770.12

    11/18/051753.70

    11/19/051761.42

    11/21/051770.12

    11/22/051782.74

    11/23/051778.29

    11/24/051781.91

    11/25/051784.03

    11/26/051787.77

    11/28/051786.03

    11/29/051781.84

    11/30/051775.78

    12/1/051802.90

    12/2/051825.74

    12/3/051829.69

    12/5/051856.52

    12/6/051854.21

    12/7/051851.92

    12/8/051869.55

    12/10/051869.55

    12/12/051868.95

    12/13/051861.05

    12/14/051835.54

    12/15/051831.36

    12/16/051798.40

    12/17/051800.07

    12/19/051783.72

    12/20/051777.01

    12/21/051776.68

    12/22/051789.58

    12/23/051793.48

    12/24/051794.65

    12/26/051799.10

    12/27/051801.45

    12/28/051838.25

    12/29/051843.27

    12/30/051846.11

    12/31/051848.68

    1/1/061893.21

    1/2/061857.50

    1/3/061888.55

    1/4/061890.49

    1/5/061872.29

    1/6/061895.24

    1/7/061896.82

    1/9/061889.25

    1/10/061889.00

    1/11/061889.19

    1/12/061888.64

    1/13/061893.43

    1/14/061893.21

    1/16/061902.95

    1/17/061915.60

    1/18/061911.69

    1/19/061925.27

    1/20/061938.57

    1/21/061944.65

    1/23/061944.04

    1/24/061936.98

    1/25/061936.98

    1/27/061933.86

    1/28/061934.26

    1/30/061940.76

    1/31/061938.99

    2/1/061949.45

    2/2/061916.80

    2/3/061906.97

    2/4/061920.34

    2/6/061929.90

    2/7/061895.35

    2/8/061892.62

    2/9/061903.56

    2/10/061878.06

    2/11/061878.03

    2/13/061860.49

    2/14/061857.77

    2/15/061847.21

    2/16/061844.21

    2/17/061865.63

    2/18/061867.13

    2/20/061882.46

    2/21/061879.82

    2/22/061874.95

    2/23/061864.06

    2/24/061899.85

    2/25/061897.90

    2/27/061879.74

    2/28/061879.74

    3/1/061894.03

    3/2/061894.03

    3/3/061912.12

    3/4/061930.72

    3/6/061902.35

    3/7/061896.97

    3/8/061872.59

    3/9/061890.22

    3/10/061882.35

    3/11/061880.72

    3/13/061891.47

    3/14/061918.80

    3/15/061916.68

    3/16/061922.66

    3/17/061928.98

    3/18/061928.16

    3/20/061914.72

    3/21/061915.15

    3/22/061925.44

    3/23/061949.90

    3/24/061961.56

    3/25/061973.99

    3/27/061987.29

    3/28/062007.88

    3/29/062033.35

    3/30/062069.14

    3/31/062058.38

    4/1/062057.69

    4/3/062089.03

    4/4/062087.37

    4/5/062096.61

    4/6/062121.57

    4/7/062120.84

    4/8/062132.10

    4/10/062184.01

    4/11/062191.66

    4/12/062201.69

    4/13/062208.52

    4/15/062253.23

    4/17/062273.17

    4/18/062310.81

    4/19/062375.65

    4/20/062258.64

    4/21/062332.87

    4/22/062372.45

    4/24/062269.53

    4/25/062314.45

    4/26/062336.73

    4/27/062313.54

    4/28/062370.30

    4/29/062364.99

    5/1/062396.08

    5/2/062419.85

    5/3/062394.89

    5/4/062375.11

    5/5/062380.71

    5/6/062390.65

    5/8/062367.40

    5/9/062420.99

    5/10/062438.63

    5/11/062502.07

    5/12/062479.22

    5/13/062466.88

    5/15/062387.90

    5/16/062399.07

    5/17/062356.65

    5/18/062330.33

    5/19/062304.98

    5/20/062284.40

    5/22/062269.49

    5/23/062348.21

    5/24/062290.26

    5/25/062324.54

    5/26/062330.73

    5/27/062330.07

    5/29/062329.25

    5/30/062354.51

    5/31/062321.00

    6/1/062293.30

    6/2/062315.61

    6/3/062328.50

    6/5/062337.08

    6/6/062313.69

    6/7/062304.40

    6/8/062242.88

    6/9/062254.80

    6/10/062250.67

    6/12/062234.63

    6/13/062126.26

    6/14/062110.16

    6/15/062145.46

    6/16/062148.87

    6/17/062140.84

    6/19/062114.72

    6/20/062134.77

    6/21/062160.98

    6/22/062152.85

    6/23/062151.83

    6/24/062157.14

    6/26/062171.25

    6/27/062179.40

    6/28/062182.15

    6/29/062205.84

    6/30/062248.21

    7/1/062256.18

    7/3/062272.73

    7/4/062267.21

    7/5/062290.13

    7/6/062311.71

    7/7/062294.03

    7/8/062293.79

    7/10/062260.03

    7/11/062305.71

    7/12/062321.84

    7/13/062353.04

    7/14/062379.70

    7/15/062402.51

    7/17/062347.01

    7/18/062309.60

    7/19/062321.63

    7/20/062311.25

    7/21/062285.94

    7/22/062284.39

    7/24/062305.98

    7/25/062298.89

    7/26/062309.84

    7/27/062322.76

    7/28/062319.66

    7/29/062320.49

    7/31/062334.33

    8/1/062360.58

    8/2/062400.53

    8/3/062385.23

    8/4/062393.01

    8/5/062393.80

    8/7/062413.65

    8/8/062412.75

    8/9/062434.23

    8/10/062388.36

    8/11/062379.85

    8/12/062376.27

    8/14/062367.83

    8/16/062362.81

    8/17/062312.38

    8/18/062318.94

    8/19/062327.00

    8/21/062348.80

    8/22/062345.32

    8/23/062333.63

    8/24/062338.56

    8/25/062355.93

    8/26/062359.32

    8/28/062322.10

    8/29/062316.40

    8/30/062324.98

    8/31/062335.37

    9/1/062333.07

    9/2/062337.06

    9/4/062319.92

    9/5/062328.38

    9/6/062319.05

    9/7/062284.70

    9/8/062250.06

    9/9/062248.51

    9/11/062190.58

    9/12/062169.87

    9/13/062168.59

    9/14/062141.43

    9/15/062127.29

    9/16/062139.80

    9/18/062174.40

    9/19/062125.16

    9/20/062114.85

    9/21/062105.75

    9/22/062105.61

    9/23/062109.11

    9/25/062120.74

    9/26/062121.87

    9/27/062141.25

    9/28/062172.79

    9/29/062151.88

    9/30/062152.30

    10/3/062085.25

    10/4/062067.00

    10/5/062096.01

    10/6/062100.19

    10/7/062097.43

    10/9/062129.75

    10/10/062101.89

    10/11/062096.29

    10/12/062091.88

    10/13/062122.68

    10/14/062127.31

    10/16/062145.90

    10/17/062118.39

    10/18/062104.15

    10/19/062121.40

    10/20/062109.35

    10/21/062109.93

    10/23/062090.44

    10/24/062099.47

    10/25/062130.00

    10/26/062150.91

    10/27/062148.99

    10/28/062151.04

    10/30/062137.45

    10/31/062130.22

    11/1/062135.65

    11/2/062151.89

    11/3/062157.90

    11/4/062162.79

    11/6/062177.70

    11/7/062163.78

    11/8/062154.70

    11/9/062179.78

    11/10/062179.72

    11/11/062175.65

    11/13/062167.56

    11/14/062169.39

    11/15/062185.27

    11/16/062162.13

    11/17/062146.32

    11/18/062144.40

    11/20/062145.31

    11/21/062161.64

    11/22/062157.38

    11/23/062169.18

    11/24/062196.22

    11/25/062212.42

    11/27/062228.10

    11/28/062246.07

    11/29/062258.97

    11/30/062284.78

    12/1/062291.55

    12/2/062303.63

    12/4/062291.56

    12/5/062283.66

    12/6/062266.12

    12/7/062254.94

    12/8/062260.01

    12/9/062250.12

    12/11/062256.23

    12/12/062246.55

    12/13/062238.94

    12/14/062252.92

    12/15/062228.20

    12/16/062220.22

    12/18/062186.88

    12/19/062198.97

    12/20/062202.80

    12/21/062171.80

    12/22/062174.37

    12/23/062186.97

    12/26/062175.74

    12/27/062181.95

    12/28/062185.15

    12/29/062189.62

    12/30/062200.78

    1/1/072197.37

    1/2/072192.02

    1/3/072136.89

    1/4/072114.80

    1/5/072075.31

    1/6/072084.11

    1/8/072081.43

    1/9/072088.85

    1/10/072068.43

    1/11/072052.27

    1/12/072058.04

    1/13/072069.07

    1/15/072063.37

    1/16/072034.31

    1/17/072047.49

    1/18/072028.98

    1/19/072055.72

    1/20/072058.76

    1/22/072061.80

    1/23/072085.19

    1/24/072100.46

    1/25/072113.03

    1/27/072123.76

    1/29/072112.03

    1/30/072126.09

    1/31/072140.64

    2/1/072156.03

    2/2/072131.75

    2/3/072152.07

    2/5/072159.07

    2/6/072157.51

    2/7/072147.58

    2/8/072147.18

    2/9/072179.78

    2/10/072173.66

    2/12/072136.46

    2/13/072159.96

    2/14/072150.63

    2/15/072143.70

    2/16/072163.77

    2/17/072163.12

    2/19/072162.81

    2/20/072137.44

    2/21/072182.44

    2/22/072212.40

    2/23/072229.49

    2/24/072242.45

    2/26/072267.33

    2/27/072261.86

    2/28/072225.98

    COMDEX

    2256.18

    2272.73

    2267.21

    2290.13

    2311.71

    2294.03

    2293.79

    2260.03

    2305.71

    2321.84

    2353.04

    2379.7

    2402.51

    2347.01

    2309.6

    2321.63

    2311.25

    2285.94

    2284.39

    2305.98

    2298.89

    2309.84

    2322.76

    2319.66

    2320.49

    2334.33

    2360.58

    2400.53

    2385.23

    2393.01

    2393.8

    2413.65

    2412.75

    2434.23

    2388.36

    2379.85

    2376.27

    2367.83

    2362.81

    2312.38

    2318.94

    2327

    2348.8

    2345.32

    2333.63

    2338.56

    2355.93

    2359.32

    2322.1

    2316.4

    2324.98

    2335.37

    2333.07

    2337.06

    2319.92

    2328.38

    2319.05

    2284.7

    2250.06

    2248.51

    2190.58

    2169.87

    2168.59

    2141.43

    2127.29

    2139.8

    2174.4

    2125.16

    2114.85

    2105.75

    2105.61

    2109.11

    2120.74

    2121.87

    2141.25

    2172.79

    2151.88

    2152.3

    2085.25

    2067

    2096.01

    2100.19

    2097.43

    2129.75

    2101.89

    2096.29

    2091.88

    2122.68

    2127.31

    2145.9

    2118.39

    2104.15

    2121.4

    2109.35

    2109.93

    2090.44

    2099.47

    2130

    2150.91

    2148.99

    2151.04

    2137.45

    2130.22

    2135.65

    2151.89

    2157.9

    2162.79

    2177.7

    2163.78

    2154.7

    2179.78

    2179.72

    2175.65

    2167.56

    2169.39

    2185.27

    2162.13

    2146.32

    2144.4

    2145.31

    2161.64

    2157.38

    2169.18

    2196.22

    2212.42

    2228.1

    2246.07

    2258.97

    2284.78

    2291.55

    2303.63

    2291.56

    2283.66

    2266.12

    2254.94

    2260.01

    2250.12

    2256.23

    2246.55

    2238.94

    2252.92

    2228.2

    2220.22

    2186.88

    2198.97

    2202.8

    2171.8

    2174.37

    2186.97

    2175.74

    2181.95

    2185.15

    2189.62

    2200.78

    2197.37

    2192.02

    2136.89

    2114.8

    2075.31

    2084.11

    2081.43

    2088.85

    2068.43

    2052.27

    2058.04

    2069.07

    MCX COMDEX

    Global Indices

    GSCI SPOT IndexDJAIG Commodity IndexRogers Commodity IndexCRB Index

    DatePx LastDatePx LastDatePx LastDatePx Last

    6/1/05368.976/1/05153.816/1/052955.986/1/05304.33

    6/2/05366.126/2/05153.196/2/053026.096/2/05304.16

    6/3/05373.626/3/05155.086/3/053008.716/3/05306.70

    6/6/05373.836/6/05155.466/6/053052.986/6/05307.28

    6/7/05371.686/7/05154.356/7/053048.586/7/05306.21

    6/8/05366.576/8/05152.516/8/053024.496/8/05303.73

    6/9/05375.836/9/05153.706/9/052984.776/9/05304.18

    6/10/05372.456/10/05152.396/10/053023.516/10/05302.48

    6/13/05382.986/13/05154.536/13/052994.496/13/05304.28

    6/14/05379.886/14/05154.146/14/053047.296/14/05304.96

    6/15/05383.006/15/05156.056/15/053031.886/15/05306.98

    6/16/05387.486/16/05157.476/16/053063.116/16/05308.59

    6/17/05395.566/17/05159.856/17/053091.966/17/05310.98

    6/20/05399.066/20/05161.406/20/053149.226/20/05313.76

    6/21/05393.826/21/05159.636/21/053181.246/21/05311.03

    6/22/05390.426/22/05158.886/22/053149.466/22/05309.58

    6/23/05395.756/23/05159.076/23/053122.066/23/05311.45

    6/24/05396.656/24/05159.846/24/053146.206/24/05312.24

    6/27/05398.236/27/05158.056/27/053168.186/27/05311.37

    6/28/05387.136/28/05154.846/28/053156.866/28/05304.48

    6/29/05382.906/29/05154.636/29/053082.796/29/05303.10

    6/30/05379.796/30/05152.896/30/053065.206/30/05300.00

    7/1/05390.737/1/05154.667/1/053026.837/1/05303.86

    7/5/05398.587/5/05158.457/5/053071.137/5/05309.76

    7/6/05408.297/6/05160.187/6/053131.877/6/05313.32

    7/7/05404.557/7/05159.167/7/053167.017/7/05312.01

    7/8/05399.867/8/05158.147/8/053157.337/8/05309.90

    7/11/05396.217/11/05157.897/11/053127.737/11/05308.90

    7/12/05405.747/12/05159.667/12/053117.687/12/05311.68

    7/13/05403.477/13/05160.077/13/053146.357/13/05311.54

    7/14/05394.847/14/05159.327/14/053140.827/14/05309.11

    7/15/05396.757/15/05159.567/15/053109.657/15/05309.57

    7/18/05392.097/18/05158.107/18/053123.497/18/05306.93

    7/19/05391.877/19/05156.547/19/053101.437/19/05304.79

    7/20/05389.037/20/05156.157/20/053081.037/20/05303.37

    7/21/05383.467/21/05154.117/21/053064.727/21/05300.76

    7/22/05390.427/22/05155.687/22/053031.677/22/05304.25

    7/25/05391.0