BSE plans to set up comex, seeks regulatory nod

MUMBAI: The Bombay Stock Exchange is set to seek regulatory nod to set up a commodity exchange to rival NSE-promoted National Commodity & Derivatives Exchange (NCDEX). Sources said the BSE board recently cleared the proposal and the exchange will now approach Sebi for approval. The move comes at a time when the commodities futures business in a bit of a flux with the Kotak Mahindra Group taking charge of MCX and some of the other exchanges shutting shop.