The stock market watchdog had said any adverse findings by other regulators might have a bearing on the exchange.
The Securities and Exchange Board of India, on Wednesday, directed Jignesh Shah-led FTIL to sell shares in MCX-SX and other entities within 90 days on the ground that it was not 'fit and proper' to own stakes in any exchange.
The Multi Commodity Exchange has filed its draft red herring prospectus with the Securities and Exchange Board of India for the company's public offer. It will list only on the Bombay Stock Exchange (BSE).
The MCX chief was in the US to clinch a deal with the NYSE that has bought 5 per cent stake in MCX.
Indian Energy Exchange has joined world's leading power exchanges like Powernext (France), EEX (Germany, Northern Europe), PJM (USA), JEPX (Japan and Norway's Nordpool which is the largest power exchange in the world). IEX, India's first power exchange got its approval from CERC on August 31, 2007. It is promoted by Financial Technologies Ltd & PTC financial services, a wholly owned subsidiary of PTC India Ltd. Joseph Massey, Deputy MD of MCX, is in charge of the exchange.
National Spot Exchange Limited, promoted by Jignesh Shah-led Financial Technologies, is facing payment crisis of Rs 5,600 crore (Rs 56 billion).
Case relates to alleged irregularities in '08 sanction to MCX-SX; Shah grilled in NSEL case.
Multi Commodity Exchange of India Ltd has emerged the second largest Natural Gas Exchange globally, next to New York Mercentile Exchange.
India's commodity bourses -- Multi-Commodity Exchange and National Commodity and Derivatives Exchange -- are gearing up to launch futures trading in carbon credits.
Earlier this month, the CBI registered a Preliminary Enquiry against former Sebi Chairman C B Bhave and ex-member K M Abraham, as also against Jignesh Shah-founded FTIL and MCX, among others.
Petrol and diesel are among the 90-plus commodities that have been approved by the government for derivatives trading
The Multi-Commodity Exchange on Wednesday initiated changes in the composition and weightage of India's first real-time composite commodity futures index - MCX-Comdex.
In a severe indictment, commodity market regulator FMC has said Jignesh Shah and his firm FTIL are not 'fit and proper' to run any exchange in the country and charged him of being the "highest beneficiary" in the NSEL scam.
The Multi Commodity Exchange of India has decided to start a one-year full-time certificate course on commodities in March this year in Mumbai.
Financial Technologies India Ltd (FTIL) promoter Jignesh Shah, whose 'fit-and-proper' status to run an exchange has been under regulatory scrutiny following the Rs 5,600-crore payment fraud at NSEL, on Tuesday decided to continue as a director of group firm Multi Commodity Exchange (MCX).
Union minister Jairam Ramesh on Tuesday attacked the Central Bureau of Investigation for initiating preliminary enquiry against ex-SEBI chairman C B Bhave and ex-member K M Abraham on the issue of granting sanction to MCX Stock Exchange, and alleged that "larger forces" were working to fix them.
His comments came in response to a query on whether Securities and Exchange Board of India would be initiating action against MCX-SX which rejigged its board yesterday amid continuing payment crisis at its group firm National Spot Exchange Ltd.
'India Inc has been afraid to criticise the government of the day for many years now, and it is perhaps unfair to blame the current one alone,' says Shyamal Majumdar.
Karvy group's commodity broking arm, too, is facing a liquidity crisis because of some issues related to NCDEX, said people in the know.
'Largely, new demat accounts are now being opened by the younger crowd, particularly GenZ.' 'This is great news since younger investors start their journey with very little capital, so they are risking less.'
According to a senior CBI official, the agency has evidence to suggest the finance ministry's recommendations were overlooked while giving a licence to MCX-SX in 2008.
Though the agency did not include former Sebi chief CB Bhave and ex-member KM Abraham in the case, it recommended departmental action against the two.
In the first major international exchange business initiative by an Indian entity, a new commodity and currency bourse, Singapore Mercantile Exchange (SMX) on Tuesday commenced trading here with derivatives contracts like gold, crude oil and Euro-US dollar.
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.
A dedicated physical gold exchange could lead to standard gold pricing in India.
While NSE is exploring 8-10 new agri-commodities, BSE is eyeing as many as 15, most of which aren't traded on any other online derivative exchange in India.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Treat silver as part of the procyclical or growth assets in your portfolio, advises Sanjay Kumar Singh.
The RBI banned imports on a consignment basis, making it difficult for jewellers to source raw material.
India has imposed several restrictions on imports of gold, the biggest non-essential import item, to curb a record trade deficit.
In addition to that, an increasing number of airlines like SpiceJet, national carrier Air India and GoAir are either getting into hedging of aviation turbine fuel or increasing the quantum of ATF hedged on the MCX. Last month, state-run Indian Oil Corporation approached MCX to provide it with a platform to hedge its refinery margins and end products from crude oil.
India plans to launch trading of government bond futures within the next two months as part of efforts to deepen its financial markets, according to several sources involved in the discussions with the central bank.
It has been three years since it has been opened to retail investors, but few have taken to it. A primer for those prepared to dive in to find the pearls.
Mandatory hallmarking of gold would be a positive in making the gold market more organised. Mandatory hallmarking would come into effect from January 15, 2020, with a one-year transition period for trade to sell existing inventories. Experts also expect more policy measures next year to bring in more transparency in terms of gold as an asset class.
An interview with Jignesh Shah.
It will be the first to go, in what has become an overcrowded segment since India first allowed futures trading in commodities in 2003.
Experts recommend buying gold as the fundamentals supporting a rally have not changed.
The duo bought additional shares in pharmaceutical companies Lupin and Jubilant Life Sciences, along with Agro Tech Foods and NCC during Q2FY21
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