SEBI nod for MCX clear­ing cor­po­ra­tion

India Business Journal - - NEWS ROUND-UP -

MCX, the coun­try's largest com­mod­ity ex­change, has re­ceived cap­i­tal and com­mod­ity mar­ket reg­u­la­tor SEBI's

ap­proval to clear all trades through its sub­sidiary MCX Clear­ing Cor­po­ra­tion (MCXCCL). In a bid to de­risk op­er­a­tions last Au­gust, SEBI had ap­proved MCX's pro­posal and pro­vided ini­tial li­cence to op­er­ate the clear­ing

house for one year with a con­di­tion to gen­er­ate a net worth of

Rs 300 crore by Septem­ber 2019. MCXCCL is the first clear­ing cor­po­ra­tion to get SEBI's ap­proval in the com­mod­ity de­riv­a­tives mar­ket.

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