NEW DELHI, Oct 8 (Reuters) – Multi Commodity Exchange of
India (MCX) has received approval from the country’s
market regulator to launch its proposed commodity derivatives
platform, put on hold last month, the MCX said in a statement on
Sunday.
In late September, the Securities and Exchange Board of
India (SEBI) asked MCX to drop its plans to launch a new
commodity derivatives platform.
SEBI stopped MCX from launching its commodity derivatives
platform after investor group Chennai Financial Markets and
Accountability urged the regulator to intervene and ensure that
MCX has the requisite technical support to go ahead with its
plan.
After looking into the issue, SBI’s technical advisory
committee has recommended that MCX can launch the commodity
derivatives platform, MCX said in the statement.
(Reporting by Jayshree P Upadhyay and Mayank Bhardwaj; Editing
by Christian Schmollinger)
Read More: India’s markets regulator permits MCX to launch new derivatives platform