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Multi Commodity Exchange of India, an independent commodity exchange, in the first fortnight of August has seen its market share rise for the first time since the impact of NSEL scam and imposition of commodity transaction tax that caused volumes of the exchange to drop in the last one year.
In the first fifteen days of August, MCX clocked a market share of 83.4% while its market stood at 86% during the July–September 2013 quarter.
In the latter half of the previous fiscal, MCX saw its market share fall to 78.4%. However, MCX’s market share held steady at above 80% beginning April 2014. The exchange continues to dominate in non-agricultural commodities above 99% since Q2 2013-14.
P K Singhal, executive vice president of MCX said, “We are grateful to the market participants, particularly hedgers, for continuing to repose their faith in MCX."
