Sebi to re-examine MCX plea on MCX-SX divestment

Sebi has asked both MCX and FTIL to sell their holdings in MCX-SX CCL founded by them

Capital markets regulator Securities and Exchange Board of India (Sebi) will take a relook at a fresh plea by Multi Commodity Exchange (MCX) that it be exempted from divesting its holding in MCX-SX, sources have said. Sebi has asked MCX and Financial Technologies (India) Limited, or FTIL, to sell their holdings in the exchange and the Clearing Corporation Limited (MCX-SX CCL) founded by these.

In July, Sebi had rejected a similar request by MCX. Last week, MCX wrote to Sebi for the second time. "The company in a letter dated August 6 has once again represented to Sebi that FTIL and itself no longer act in concert in view of the recent developments and so the company should not be required to divest its holding in MCX-SX and MCX-SX CCL," MCX said in a regulatory filing.