Man is one of the leading brokers of exchange-traded futures and options, providing advice, execution and clearing services to a worldwide client base, including financial institutions and companies to private clients.

Having a `pre-eminent' position in the energy and soft commodities and leading role in financial futures market, Man currently provides agency broking and other services to corporate and institutional clients worldwide from its offices located at London, New York, Chicago, Singapore and other `strategically' located places.

Under the arrangement, Mecklai Commodities will be able to provide Indian corporates access to international futures exchanges to hedge commodity related risks. The agreements covers a spectrum of commodities, including soyabean, its oil and meal, palm oil, coffee, sugar and cotton as well as other commodities like pulp, paper and even fertilisers. The arrangement does not cover hedging on the London Metal Exchange (LME) said a statement released by Mecklai Commodities.

For Indian corporates' hedging requirements in the non-ferrous metals on the LME, Mecklai Commodities has an introducing broker relationship with Mitsui Bussan Commodities Ltd (MBC).

Mecklai Commodities is the commodities trading arm of Mecklai Financial,the leading financial and risk management company that claims to have pioneered the concept of analytic decision- making in domestic foreign exchange market almost three decades ago. Mecklai Commodities was set up last year to focus on growing needs of the commodities sector, especially when the government has since September 1998 allowed Indian corporates to hedge their commodity-related risks on international commodity exchanges. Managing director, Mecklai Commodities, Jamal Mecklai who was associated with the Reserve Bank of India's RV Gupta Committee for recommendations to allow Indian corporates to hedge their commodity related risks on the international complexes.

Currently, Jamal Mecklai claims to be advising nearly 1,000 Indian corporate on how to manage risks arising out their exposure to forex, interest rates and commodity markets.