MCX case: Compat bins FTIL plea

MCX-SX was set up by FTIL and MCX,the country8217;s biggest commodity bourse.

A three-member Compat bench,headed by its Chairman Justice VS Sirpurkar,dismissed FTIL8217;s plea after observing that it does not 8220;find any merit8221; in it.

FTIL8217;s plea was opposed by the NSE,which said that it was not a party before the CCI Competition Commission of India and hence there is no need for the same in Compat case.

The NSE had challenged the CCI order,passed last year,wherein it had imposed the penalty on the bourse for allegedly abusing its dominance in the equity market,thus affecting the competition in currency derivative segment.

FTIL is a specialist in providing IT solutions for the equity,treasury,forex,commodity,derivatives and depository segments.