MCX floats new company

The Multi Commodity Exchange (MCX) has floated a separate company that will handle currency futures trade. Named the ‘MCX stock exchange’, the new entity is wholly- promoted by MCX and has again sought permission from the Sebi.

MCX had earlier applied to Sebi for necessary clearance along with the NSE (NSE) for launching currency futures. While the Sebi has approved NSE’s proposal to launch currency futures, the regulator asked MCX to set up a separate entity first.