The Forward Markets Commission (FMC) on Wednesday said Multi Commodities Exchange (MCX) can launch its contracts for 2015 after full divestment by Financial Technologies (FTIL) in MCX takes place in compliance with the commission?s order.
FMC has received representations from market participants to permit launch of fresh contracts in MCX to ensure continuity of trading and hedging on the platform.
FMC also said MCX can launch contracts up to March 2015 as soon as a new technology agreement is signed between MCX and FTIL. This is done in view of the fact that signing such an agreement is a pre-condition for the sale of shares from FTIL to Kotak Mahindra Bank. It is expected that the divestment will be completed by FTIL soon after signing of the technology agreement, FMC said.
