Page 11 - Mcx

Gold gains all-time high of Rs 38,470 on rising demand, firm global trends

Globally, gold and silver were trading a shade higher at $1,517.30 and $16.96 an ounce

Multi Commodity Exchange wants partial hedging for metals on local bourses

Currently, these large companies (such as Hindalco) hedge all their risks in metal prices on bourses abroad

MCX taking measures to save metal segment as volumes fall sharply

Wants regulator to ask metals companies to hedge part of risk on local exchanges

PS Reddy replaces Paranjape as the new MD & CEO of MCX after Sebi nod

Reddy's appointment was approved by SEBI. He takes over from Mrugank Paranjape who decided not to continue for the second term.

Regulatory tailwinds may reverse MCX's poor show, spur price discovery

Stock yet to reward investors; volatility in sales, profit numbers have been pain points

MCX net profit jumps twofold to Rs 42 crore in December quarter

Net income increased to Rs 109.10 crore on a consolidated basis during the December quarter of 2018-19 from Rs 76.52 crore in the year-ago period

MCX gold trades at discount to import price on duty cut reports

Market players say the discount points to the possibility of a one per cent reduction in taxes on the precious metal

Trading on MCX halts twice due to technical glitch

MCX said that the technical glitch was not caused due to any cyber security breach.

MCX sees options volumes growing to 60% of underlying futures in 6 months

India's largest commodity futures trading platform, the Multi Commodity Exchange of India (MCX) targets "options" volume to grow to a minimum 60 per cent of underlying futures contracts. The exchange looks at achieving this in six months.gold options was launched in October 2017. In last over a month option basket was expanded adding other non-agri commodities including silver, copper, zinc and crude oil. Other commodities are yet to see their first settlement and hence there is no enough response from traders. Gold options recorded Rs 1570.30 million daily average turnover when launched in last October but that euphoria died down and trading fell to around 15 per cent of that in February. To boost volume in this segment, markets regulator Securities and Exchange Board of India (Sebi) allowed market making in gold "options" which brought noticeable success with its daily average turnover exceeding Rs 6460.5 million for May '18. For June '18 (upto June 21) also, the daily average ...

MCX rallies 8% on merger talks with NSE

The stock rallied 8% to Rs 775 after the media report suggested that the company has entered into merger talks with the NSE ahead of the implementation of the universal exchange framework in October.

MCX launches futures trading in brass for the first time globally

Significantly, MCX Brass futures is the first non-ferrous contract with compulsory delivery option

MCX hits 52-week low on disappointing Q3 results

The stock hit a 52-week low of Rs 846, down 6% on BSE in intra-day trade after the company reported 45% decline in consolidated net profit at Rs 188 million in December 2017 quarter.

Sebi revokes penal order against 7 in MCX insider trading case

On August 2 last year, Sebi's then whole-time member S Raman had held 13 former top MCX officials and its erstwhile promoter guilty of insider trading

MCX gets Sebi nod for launching options contract in gold

Exchanges have been demanding for long that options trading in commodities be allowed

Multiple catalysts ahead for MCX

Analysts say MCX could first launch options in gold and then in two-three more commodities by FY19

Recent weakness a good entry point in MCX stock

Weak volumes coupled with higher operating expenses impacted MCX (or Multi Commodity Exchange of India)'s results for the March 2017 quarter (Q4). Falling volumes of precious metals, both gold and silver, thanks to continued subdued activity in the physical market post note ban led to a sharp 10 per cent sequential dip in MCX's volumes in the quarter. Higher realisations post the recent price hike in transaction charges, however, enabled MCX to post consolidated income of Rs 57 crore, which though down 9.5 per cent sequentially were in line with analyst expectations. Higher expenses towards regulatory fees and investments in GIFT city pushed up the company's operating expenses, which in turn squeezed the EBIT margin to a measly 5.2 per cent as compared to 15.1 per cent in the preceding quarter. On top of all this, higher tax rate too impacted consolidated net profit, which fell 36 per cent sequentially to Rs 22 crore, which consequently fell way below expectation of Rs 30 crore. In ...

MCX to appoint auditor for IT policy administration

The Multi Commodity Exchange (MCX) will appoint an independent auditor for its policy administration on information technology (IT). Its board of directors recently decided so, as a 'good governance practise,' said a source in the know. This follows some allegations by an unknown party against the National Stock Exchange for preferring some brokers over other market participants on speedy trade execution. While NSE is allowed to offer co-location facilities to brokers for faster access, similar facilities are not allowed to commodity exchanges. After NSE-like allegations were made against MCX, the exchange's "now fiercely independent Board advised the management to volunteer to carry out a validation (audit) by a third party (any reputed technology service audit firm of repute) of the exchange's policy administration on the IT side, related to network connectivity", said the source quoted earlier.The bourse has told the Securities and Exchnage Board of India about its decision and is .

MCX eyes agri commodities segment with a slew of new products

ORAfter consolidating human resource, the Multi Commodities Exchange (MCX) has set its sight on strengthening position in agri commodities segment and consolidating non-agri segment with plan to introduce slew of new products many of which were not available for for trading in derivatives so far. MCX MD & CEO, Mrugank Paranjape said, "We plan to strengthen our position in agri commodities space to involve even farmers and plan to launch futures in some new commodities where we see good scope. Some of them being launched for the first time."The product include robusta coffee where exports are also rising and so far not available for futures. MCX spotted a good numbers of those interested in hedging the crop or consumers and exporters looking for hedging coffee procurement price risk with expansion of retail coffee chains. The exchange is said to be exploring futures in tea but the issue comes is that there are several varieties and grades and standardising contract is not so ...

MCX signs MoU with Singapore Diamond Investment Exchange

The MoU will support the mutual interests of MCX and SDiX

MCX board appoints forensic auditor for trading software

Move follows a Sebi directive asking MCX to ascertain whether software is best among available