PS Reddy replaces Paranjape as the new MD & CEO of MCX after Sebi nod

Reddy's appointment was approved by SEBI. He takes over from Mrugank Paranjape who decided not to continue for the second term.

Multi Commodity Exchange of India (MCX) Friday said P S Reddy has taken charge as the managing director and CEO of the company.

"Reddy's appointment has been approved by Securities and Exchange Board of India (Sebi), for a period of five years with effect from May 10, 2019," MCX said in a BSE filing.

Reddy has taken over from Mrugank Paranjape, who decided not to continue for the second term as the MD and CEO.

In February, MCX had announced appointment of Reddy as the managing director and CEO of the company.

Prior to MCX, Reddy worked as managing director and CEO of Central Depository Services (CDSL).