 "Spencer Stuart to search MD for MCX")
India’s largest commodity futures exchange Multi Commodities Exchange (MCX) might soon get its new managing director and chief executive officer. The exchange management has roped in head hunting firm, Spencer Stuart, for the purpose. The agency has found 10 candidates who will be interviewed on February 7.
The MCX is working without MD since Manoj Vaish left in early May 2014. After that the MCX has asked senior executive P K Singhal to run the operations. Later, he was promoted as joint MD. After he took charge, the MCX has regained the market share lost during the exchange’s crisis time post imposition of CTT and NSEL default.
According to a source, of the 10 candidates called for the interview, at least four are associated with stock exchanges, including BSE. It is also learnt that four-five candidates are from the industry or market. In the recent months, MCX has regained its lost ground in market share. In January 2015, its market share was 86.3 per cent against 79.3 per cent in the previous January. Its average daily volumes in January was Rs 23,366 crore against Rs 19,214 crore same period last year.
The MCX is working without MD since Manoj Vaish left in early May 2014. After that the MCX has asked senior executive P K Singhal to run the operations. Later, he was promoted as joint MD. After he took charge, the MCX has regained the market share lost during the exchange’s crisis time post imposition of CTT and NSEL default.
According to a source, of the 10 candidates called for the interview, at least four are associated with stock exchanges, including BSE. It is also learnt that four-five candidates are from the industry or market. In the recent months, MCX has regained its lost ground in market share. In January 2015, its market share was 86.3 per cent against 79.3 per cent in the previous January. Its average daily volumes in January was Rs 23,366 crore against Rs 19,214 crore same period last year.