Sebi not in favour of NSE-MCX merger due to co-location controversy

The proposed merger between the National Stock Exchange (NSE) and the Multi Commodity Exchange (MCX) is unlikely to see the light of day in the near future. 

According to sources in the Securities and Exchange Board of India (Sebi), it is not in favour of a merger at this point in time because of pending investigation in the co-location matter involving the NSE.

Both the exchanges had prepared an initial merger proposal and had even appointed the investment bankers for the transaction.

Earlier this month, the NSE and the MCX had an initial round of discussion with Sebi over the merger