MCX Gets FMC Permission To Launch All Its Contracts Up To March 2015
The Commission has received representations from market participants to permit launch of fresh contracts in MCX to ensure continuity of trading and hedging on the platform.
In view of the above developments, the Commission has decided the following:
(i) The MCX can launch all its contracts for the year 2015 once the full divestment by FTIL in MCX takes place in compliance of the Order of the Commission dated 17th December, 2013.
(ii) The MCX can launch contracts up to March 2015 as soon as a new technology agreement is signed between MCX and FTIL. This is being done in view of the fact that signing of such an agreement is a pre-condition for the sale of shares from FTIL to KMBL. It is expected that the divestment will be completed by FTIL soon after signing of the technology agreement.
(iii) The MCX can launch contracts as above subject to fulfillment of stated conditions, without any further reference to the Commission.
(iv) The MCX is also directed to vigorously take all pending actions on findings of PwC Report and furnish an updated compliance report by 15th October, 2014.