For Software support & Managed Services until 2022
Financial Technologies (India) (FTIL) announced that on 27 September 2014 FTIL & Multi Commodity Exchange of India (MCX) have executed a Master Amendment to Principal Agreements (Supplementary Agreement) for providing Software support & Managed Services on mutually agreed terms & conditions until the year 2022 and further renewal as may be mutually agreed between the Parties.The inter cilia commercial terms & conditions of the Supplementary Agreement is as below:
1. Fixed Chagres Rs. 1.5 crore per month including managed services payable in advance on semiannual basis;
2. Variable Charges 10.3% of gross transaction fees, by whatever name called to be paid in 30 days;
Due to this Supplementary Agreement, and based on the current volume of MCX and assuming MCX daily volume remains same, the negative impact on the total income of the Company would be around Rs. 8.82 crore for the period 2014-15.
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