MCX

Capital markets regulator Sebi has imposed a penalty of Rs 6 lakh on Multi Commodity Exchange (MCX) for flouting norms in a case pertaining to data entries of Sikkim-based clients. The matter relates to incorrect input of State code and City code as Sikkim by seven trading members of MCX in the UCC (Unique Client Code) database. In its order, Sebi found that MCX imposed a penalty of Rs 10,000 per client on these trading members for wrong entries in June 2022. "The instant case pertains to incorrect input of State code and City code as Sikkim which does not cover under Material Discrepancies. Hence as per the ToR Member & Core SGF Committee (MCSGFC) is the authority to formulate policies for regulatory actions," Sebi said in its 58-page order on Tuesday. It means MCX was required to take it to the committee which is empowered to frame policy without imposing a penalty under material discrepancy. In its order, Sebi noted that MCX has not complied with certain clauses Term of ...

Leading commodity bourse MCX on Saturday posted a 12.56 per cent rise in its consolidated net profit to Rs 38.79 crore for the third quarter ended December 2022. Its net profit stood at Rs 34.46 crore during the same quarter of the previous fiscal, according to a regulatory filing. The company's total income rose on a consolidated basis to Rs 163.65 crore in the December 2022 quarter from Rs 104.06 crore in the year-ago period. MCX largely offers derivatives in the non-commodity segment.

Multi Commodity Exchange of India (MCX India) has launched an online web-based platform for expediting arbitration processes of investors and members' complaints. The platform will also facilitate easy access to information on ongoing as well as closed arbitration and appellate arbitration matters, the exchange said in a statement. According to MCX India, the platform has been integrated with the existing online-based Investor Grievance Redressal System (IGRS). "This is another step towards ease of doing business that will facilitate hassle-free filing of arbitration applications and rejoinders," MCX Managing Director and CEO P S Reddy said on Tuesday.

As top commodity exchange MCX races against time to move its trading technology from erstwhile promoter 63 Moons, regulator Sebi is keeping a close vigil on mock trading sessions and the transition process. In the meantime, the matter has reached Madras High Court with an investors group seeking a detailed probe by Sebi (Securities and Exchange Board of India) into the exchange with regard to the "integrity and competence of the market software technology" to be adopted by MCX. While Sebi has sought for weeks' time to file a counter affidavit, the court on December 8 also issued notices to MCX, MCX Clearing Corporation as well as their CEOs and Chief Technology Officers. On condition of anonymity due to the matter being sub-judice and under regulatory scanner, top officials said some mock trading sessions have serious issues, but MCX did not reply to queries from PTI in this regard. Top officials further said the regulator is closely watching the results of every mock trading sessi

According to the technical analyst from Anand Rathi, one can consider to buy MCX Indian in the range of Rs 1,645 to Rs 1,648; while CSB Bank in Rs 264 - 266 band.

Last year, the government had cut the tax on gold imports to 7.5% in the Union Budget

According to the technical analyst, MCX India has a classic setup, precise Bullish BAT pattern on the daily chart with N-wave completed near the potential reversal zone.

Among the losing pack, Solara Active Pharma Sciences has slumped 75 per cent, while Aarti Drugs, MCX India and Tata Communications are other major laggards

BSE stock is decisively claiming new all-time high; CDSL broke out of Double-Bottom formation, while IEX has witnessed an Inverse head and shoulder breakout.

CLOSING BELL: Sectorally, the Nifty Realty and PSB indices logged the sharpest rebound today with 5 per cent gain each on the NSE

BPCL, DLF, Dwarikesh Sugar, Exide, GIC Housing, HDIL, HPCL, IOC, Jindal Saw, KEC Intl, KPIT Tech, Krsnaa Diagnostics, SCI, Sun Pharma, Suven Life, Tata Motors and UCO Bank in focus ahead of Q3 results

MCX said pressure groups in the value chain of the cotton industry are making "irrational" demand for suspension of futures trade in cotton on its platform

Metro Brands seems set for a tepid debut given the poor response to its initial public offer

The exchange already offers base metal options on futures in copper and zinc and option contracts in gold, silver and crude

Market players expect NSE's valuation to be around the Rs 2 trillion mark. They feel the exchange's IPO could lead to sharp re-rating in shares of BSE and MCX

The markets are likely to react to Reliance and ICICI Bank results at the opening bell today

Mumbai-based MCX is one of the leading commodity exchanges in the country

MCX, BSE and NSE are together setting up a spot exchange in the GIFT City

In a first, largest commodities bourse MCX is creating the post of chief operating officer, and the new appointment will be announced as early as early next month, a top exchange official has said. It can be noted that no exchanges in the country, be it the largest NSE or the oldest BSE - a publicly-traded entity or the rival commex National Commodity & Derivatives Exchange (NCDEX) have the post of a COO. All these exchanges have MDs/CEOs, chairmen and board members. We have shortlisted a few candidates for the post of our first COO. We should have him/her joining us from early next month, Multi-Commodity Exchange managing director and chief executive PS Reddy told PTI on Wednesday. Asked about the rationale for the post, which is a first in the exchanges space, he said there is more than enough workload for a second top executive. He also said the exchange will have a new chief technology officer soon to replace the vacuum created by the sudden exit of Manav Jain amid the ...

CEAT shareholders approved the issuance of NCDs up to Rs 500 crore on a private placement basis