Mrugank Paranjape appointed as MD & CEO of MCX
Mrugank Paranjape has been appointed as managing director (MD) and chief executive officer (CEO) of Multi Commodity Exchange (MCX), country’s largest commodity exchange.
This appointment is subjected to approval of Securities and Exchange Board of India (SEBI) and will be valid for three years.
Prior to this appointment he was working with Deutsche Bank as Asia Pacific Head of Trust & Securities Services/Cash Management for Financial Institutions.
About Multi Commodity Exchange (MCX)
- The MCX is country’s first listed commodity futures exchange that facilitates online trading, and clearing and settlement of commodity futures transactions.
- It began functioning in November 2003 and operates within the regulatory framework of the Forward Contracts Regulation Act (FCRA), 1952.
- MCX offers futures trading in bullion, ferrous and non-ferrous metals, energy, and a number of agricultural commodities (mentha oil, cardamom, potatoes, palm oil etc).
- Globally, MCX ranks no. 1 in silver, no. 2 in natural gas, no. 3 in crude oil and gold in futures trading and is India’s largest commodity exchange.
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Month: Current Affairs - March, 2016