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Journalism of Courage
Universal Commodity Exchange’s CEO Samir Shah has resigned from the bourse within less than a month of his joining the bourse,which is among the newest comexes in the country.
UCX,promoted by Ketan Sheth and Iffco,had announced Shah’s appointment as its CEO on May 18,while he assumed the office on June 20.
Mumbai-based UCX has got in-principle approval from FMC but is yet to start its operations.
Confirming Shah’s resignation,Sheth told PTI over phone: “He has resigned due to personal reasons and the same has been communicated to the commodity market regulator FMC (Forward Markets Commission).”
Shah said he had resigned due to matters related to his family,which was in Singapore.
Prior to joining UCX,Shah had worked with global information company Thomson Reuters for 17 years in various senior positions.
UCX aims to be a full-fledged online commodity exchange for futures and derivatives markets across all commodity segments.
