Company profile

A multi-commodity futures exchange, this electronic bourse of Financial Technologies began operations in 2003 after India unshackled trading in farm produce from decades-old policy fetters. The demutualized MCX, one of the several bourses seeking to benefit from the newest investment avenue, has secured permanent federal recognition to facilitate online trading, clearing & settlement operations in India’s futures markets.

Challenges faced by MCX

Category related - Commodities trading was still at a nascent stage and, therefore, MCX needed to invest heavily to build and develop the concept. As an investment option, commodities futures were not in the consideration set of active traders, who preferred the conventional equities and bond instruments traded on stock exchanges.

Competition related - MCX was not the first off the block. NCDEX, a competing bourse, had already established a beachhead in the expanding empire of commodities traders, enjoying better brand visibility and recall.

Brand related - The double whammy of second-mover handicap and a fledgling category concept intensified MCX’s challenge of winning the audience mind space – it had to simultaneously build its own brand.

Enter Private Treaties - the brand building catalyst

Times Private Treaties recognized the true potential of MCX and helped fast-track the brand’s awareness, piloting the brand to the top of the category leader board and driving its growth. Using a multidimensional approach to negotiate the challenges MCX faced, Times Private Treaties unleashed its powerful media platforms to help the MCX brand ram its way out of the clutter and chalk out outreach initiatives that competing branding strategies failed to match.

The Times Private Treaties treatment included:

High decibel advertising to build the concept and create awareness

Strategic branding in the Economic Times- Commodities Page to increase awareness and establish MCX’s saliency

Discussion forums on commodities trading by leveraging the Economic Times- Knowledge Forums

Market place reflections

Through the keen and focused branding provided by Times Private Treaties, MCX today is synonymous with commodities trading and enjoys “top of mind” recall in the category.

It has become India’s leading commodities exchange in bullion, energy and metals.

Investor confidence in MCX is underscored by the infusion of cash by marquee PE firms, such as NYSE Euronext, Citigroup Venture Capital and Merill Lynch.