 "A staff member walks past the MCX-SX logo at their Exchange Square building in Mumbai")
The Multi Commodity Exchange of India Ltd (MCX) has informed the BSE that its wholly owned subsidiary MCX Clearing Corporation Ltd (MCX CCL) has applied to the Securities and Exchange Board of India (Sebi) seeking recognition as a clearing corporation to enable MCX to transfer the functions of clearing and settlement of trades to a separate clearing corporation viz. MCX CCL.
The commodity exchange MCX plans to launch options trading in the next quarter of this financial year in a few commodities like bullion and crude oil following Sebi's decision to allow such trading on the bourses. Sebi had, on September 28, allowed options trading on commodity exchanges with an aim to deepen the commodity derivatives markets and enhance liquidity.
This has been a long-pending demand from the exchanges, investors and market participants. So far, only futures trading was permitted on commodity bourses.
