 "MCX")
MCX preparing war chest to face competition
Rajesh Bhayani
Mumbai, 18 January
The Multi Commodities Exchange (MCX) says it is readying a war chest of cash to compete with major stock exchanges once the universal exchange concept is implemented by the regulator.
MCX currently has a little over Rs 10 billion in free cash. The BSE has already announced a plan for commodities trade and also plans to start mock trading from January 29, even as the Securities and Exchange Board of India (Sebi) is yet to issue guidelines for a universal exchange. Once norms for the latter are issued, equity and commodities exchanges
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