MCX said it has no exposure to crisis-hit NSEL, which has to settle dues worth Rs 5,600 crore to investors after it suspended trading.
India's largest commodity bourse-the Multi Commodity Exchange (MCX)-has bagged the highest ISO certification in information security management in the world.
The board of directors at its meeting held on October 22, approved the said appointments, the exchange said in a regulatory filing on Wednesday.
Kotak Mahindra Bank has decided to buy a 15 per cent stake in Multi Commodity Exchange (MCX) for Rs 459 crore from Financial Technologies India (FTIL).
To launch technology infrastructure on Nov 18.
Anticipating a major shortage of professionals in Futures trading in the coming years, the Multi Commodity Exchange has decided to train 10,000 personnel in the sector this financial year.
India's leading commodity bourse - the Multi-Commodity Exchange Commodity of India - has led the commodity futures boom in India in the last year with a market share of 72.4 per cent.
MCX launched contracts in gold, heating oil, gasoline, natural gas, sliver HNI and aviation turbine fuel (ATF). The futures contracts will expire between February and May and the trading specifications will remain unchanged, the exchanges said.
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The exchanges have observed significant price and volume movement in the scrips of MCX in the recent past.
FTIL stock on Thursday fell by over 60 per cent in early morning trade, while that of Multi Commodity Exchange plunged by 20 per cent following concerns about another group entity National Spot Exchange Ltd.
The turmoil in financial markets seems to be affecting the global expansion plans of Financial Technologies, promoter of top domestic commodity bourse MCX, and trading at its overseas exchange ventures in Singapore, Mauritius and Bahrain may get delayed by about a year.
The trading timing would be from 0900 to 1700 hours from Monday to Friday, the exchange statement said. The Securities and Exchange Board of India Chairman, C B Bhave, will inaugurate the currency derivatives at MCX-SX on Monday, but the trading will commence only the next day, it said.
MCX Stock Exchange is bullish on breaking-even in one year's time frame.
Reliance Capital, the financial services arm of Anil Ambani-led Reliance Group, has also listed several other concerns with regard to MXC deal.
Stock markets regulator Securities & Exchange Board of India on Thursday rejected an application by MCX Stock Exchange (MCX-SX) to offer trading in segments like equities and equity derivatives, citing failure to comply with shareholding norms and illegal buyback agreements by promoters, among several other issues.
Most investors should have a 5% to 10% allocation to gold for diversification. They should stagger their investments to mitigate timing risk.
The move comes nearly a month after it acquired five per cent in the National Stock Exchange.
The resignation came hours ahead of a scheduled board meeting of MCX-SX, where former LIC Chairman Thomas Mathew T has taken over as new Chairman.
The newest stock exchange MCX-SX, which is expediting sale of promoters' equity in compliance with regulatory norms, should be valued more than $2 billion going by the comparison its CEO Joseph Massey is drawing with the BSE in terms of value and turnover.
Slew of resignations at NSEL over past month in the wake of scrutiny; MCX gaps caused by new-age norms for commexes.
The exchange granted 1.96 million stock options under two employee stock option (Esop) schemes in 2006 and 2008 to those eligible, according to regulatory filings.
Justices D Y Chandrachud and Anoop V Mohta passed the order on Wednesday after hearing an appeal filed by MCX-SX in October 2010 against Sebi for rejecting its application to set up a new equities trading platform.
Commodity investments can help you diversify your portfolio in asset classes other than equity and debt, says Dwaipayan Bose.
The licence of MCX-SX is coming up for renewal before Sebi later this month.
Crude oil volumes on the MCX platform touched a record level of 10.19 million barrels on Wednesday because of increased participation from investors amid high volatility in global crude prices. Although, there was a sharp fall in crude oil prices on Wednesday, but volumes remained upbeat, experts said, adding that prices were below $130 per barrel.
The Securities and Exchange Board of India, which had earlier rejected the MCX-SX's plea, was asked by a bench of justices Aftab Alam and C K Prasad to reconsider it within three months.
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.
National Stock Exchange, India's biggest exchange by volume, launched its operations with nearly 200 members in 1994. BSE started operations in 1875 with 318 members.
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.
The Multi Commodity Exchange on Wednesday launched India's first ever crude oil futures contract.
The company's accounts were audited by CAG as its shareholders include public sector banks.
MCX offers commodity futures contracts in agriculture, precious metals, base metals and energy commodities, whereas AFET offers commodity futures contracts in white rice, rubber and tapioca.
NSE is the market leader, both in terms of cash and derivative volumes. However, with the entry of MCX-SX, which has sought permission from the Securities and Exchange Board of India to start equities trading, the market leader wants to ramp up its operations. NSE, which started operations 15 years ago, is understood to have offered to create a front-end software called NOW on BSE's BOLT terminals.
ICICI Venture Funds Management Co. acquired 3.55 per cent, Infrastructure Leasing & Financial Services 5 per cent and Kotak Group 1 per cent in MCX from the holding company Financial Technologies. The transaction values the company at $1.1 billion.
India's largest commodity bourse--the Multi Commodity Exchange of India --may soon unveil futures contract in gold coins in an attempt to tap the small retail investors across India.
The London Stock Exchange, the world's third largest exchange in terms of value of shares traded, is in talks with Financial Technologies to buy a stake in its stock exchange arm MCX-SX.
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 MCX Stock Exchange has dragged the market regulator to court. In a writ petition filed on July 16 in the Bombay High Court, the exchange has sought a response from the Securities and Exchange Board of India on its application for permission to operate as a full-fledged stock exchange.
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