These investments from strategic international partners would provide Indian commodity markets and MCX access to global know how and technology making them more efficient, competitive and transparent institutions globally.
The buyer received poor investor response to the pricing of the share sale.
India's largest commodity bourse - the multi commodity exchange - will launch futures trading in raw jute soon.
Hearing an appeal against the market regulator's denial of information sought through Right to Information Act, the Appellate Authority has ruled the process relating to grant of recognition of MCX-SX in 2008 has been completed.
Making a weak opening, shares of FTIL further tanked 45 per cent to Rs 105.5 -- its fresh 52-week low on the BSE.
The 5 per cent equity investment is the maximum equity interest permitted to foreign investors in derivative exchanges
Shah, the forty-year-old managing director and CEO of Multi Commodity Exchange speaks about how he created this empire in a decade.
The corporation, christened MCX Clearing Corporation, is likely to start functioning next month. So far, the exchange's clearing activities are controlled by an integrated clearing house which remains a function of the exchange platform.
The exchange's promoters-- Financial Technologies (India) Ltd and commodity bourse Multi Commodity Exchange (MCX)-- have already divested 30 per cent stake in the stock exchange to various public and private banks and institutions.
The exchange also plans to start Futures trading in electricity, carbon credit, coal, freight index, weather index, real estate index and rain index after the amendment to the Futures Contracts Regulation Act is passed by the Parliament.
It will be the first to go, in what has become an overcrowded segment since India first allowed futures trading in commodities in 2003.
Shares of Multi Commodity Exchange of India (have tanked over 11% to Rs 428 on back of heavy volumes on the bourses.
As much as half the turnover of all stock exchanges in India is accounted for by only 25 broking firms. Ninety per cent of the turnover of all stock exchanges in the country is out of only five cities. These are hardly healthy signs of India's financial markets.
Fidelity International, a leading foreign institutional investor, has picked up about 9 per cent in the Multi Commodity Exchange of India Ltd for $49 million.
Commodity investments can help you diversify your portfolio in asset classes other than equity and debt, says Dwaipayan Bose.
The New York Stock Exchange, which has five per cent stake each in NSE and MCX, is keen to increase its holding further as and when Indian regulator relax rules, NYSE CEO Duncan L Niederauer said on Thursday.As per the current regulations a foreign entity cannot purchase more than five per cent stake in the country's stock exchanges.
Most investors should have a 5% to 10% allocation to gold for diversification. They should stagger their investments to mitigate timing risk.
The exchange has always seen huge volumes in gold trading. But due to a fall in prices, volumes took a hit.
The commodity transaction tax (CTT) proposal has started taking its toll on commodity exchanges. According to exchange officials, the turnover of commodity bourses has dropped sharply on transaction tax proposal and reports that the government may ban Futures trading of more commodities. The turnover may get eroded by another 20-30% once CTT comes into effect. CTT was unique and it has not been imposed on any Futures market anywhere in the world.
Even as the MCX Stock Exchange and the Delhi Stock Exchange are hoping to launch equity trading on their platform soon, another Mumbai-based exchange, the Inter-connected Stock Exchange is set to follow suit.
Laxity in enforcing KYC and allied norms suspected; money laundering gaps also on probe panel's mind
After a long lull, India's equity primary market is set to witness some activity. The Multi Commodity Exchange of India (MCX) is set to hit the market with its initial public offer (IPO) in February. The investment banking circles are already buzzing with talks about valuation. Experts say, if priced well the issue could pump life into the moribund IPO market.
The Safal National Exchange, an on-line spot exchange based in Bangalore has begun online spot trading in mangoes.
Shah wants to focus this time on a mentoring role and help youngsters with innovative ideas live their entrepreneurship dreams by providing them a platform for "institutionalisation, globalisation and scaling up" of their ventures.
Capital markets regulator Sebi Chairman U K Sinha advocated the listing of bourses and greater competition among exchanges.
A dedicated physical gold exchange could lead to standard gold pricing in India.
'If you invest in sovereign gold bond, you are going to get the price rise of gold over an eight year period.' 'You're also going to get that two-and-a-half percent which the Government of India is willing to give you, treating the money that you've invested in the sovereign gold bond as a kind of a FD or a deposit.' 'That kind of return you can never get anywhere else.'
The issue is likely to be discussed on Thursday at a meeting of Sebi's board, which would also be apprised of the impact of the Finance Ministry's decision for not agreeing to such a proposal from the capital markets regulator, sources said.
The RBI view comes within a fortnight of the sectoral regulator FMC in a report stating that the promoter Shah and promoter company Financial Technologies are not eligible to run the crippled exchange, an order challenged by the group in the Bombay High Court.
Stock exchanges have increased scrutiny of investors domiciled in Sikkim, following reports of illegal routing of investments through the Northeast state to evade taxes. The National Stock Exchange (NSE) has directed its trading members (brokers) to re-verify and certify investors who have declared their permanent address as Sikkim. Further, brokers have been told to maintain a vigil on the location of devices used by Sikkim-based clients for trading to ensure these are genuine investors from the region.
A yellow glow is likely to stand out amid grey geopolitical clouds in 2023, with gold price projected to touch Rs 60,000 per 10 grams in the Indian market as more investors veer towards safe-haven assets. In a year where volatility was more a norm than an exception, gold prices in the international market oscillated from a peak of $2,070 per ounce in March to a low of $1,616 per ounce in November and is steadily recovering since then, according to market experts. At the beginning of 2022, gold prices were around $1,800 an ounce.
The NSE and BSE made Rs 965.5 crore (Rs 9.65 billion) and Rs 135.2 crore (Rs 1.35 billion), respectively, in profits for FY14.
The Cabinet Committee of Economic Affairs is all set to announce the guidelines for FDI in commodity exchanges. Following this, the Forward Markets Commission is expected to submit the proposal for ownership structure of exchanges before the Union ministry of consumer affairs.
'It is the best avenue for investors who would like to take long-term exposure to gold.'
After National Spot Exchange Ltd (NSEL) this week suspended trading in forward contracts, the Forward Markets Commission (FMC), the commodities market regulator, on Friday sought to allay fears over the exchange defaulting on open contracts.
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