Icex

ICEX formally exits bourse biz as Sebi notifies withdrawal of recognition

Market regulator Sebi has notified that the recognition granted to the Indian Commodity Exchange Ltd (ICEX) has been withdrawn, formally signifying its exit from the bourse business. This came after the regulator on December 11 allowed ICEX to exit the exchange space after its recognition was withdrawn over two years ago. This followed after the exchange fulfilled regulatory requirements. "The Securities and Exchange Board of India (Sebi) hereby notifies that, the recognition granted to the Indian Commodity Exchange Ltd stands withdrawn with effect from the date of publication of this notification in the official gazette," Sebi said in its notification dated December 24. In its exit order, Sebi stated it reviewed ICEX's valuation report, compliance submissions and undertakings. Additionally, the regulator directed ICEX to comply with its tax obligations under the Income Tax Act, 1961; change its name and not to use the expression "stock exchange" and maintain a database of all ...

Sebi permits ICEX to exit bourse business after recognition withdrawn

Markets regulator Sebi on Tuesday allowed the Indian Commodity Exchange (ICEX) to exit the exchange space after its recognition was withdrawn over two years ago. The move comes after the exchange fulfilled regulatory requirements. Additionally, the regulator has directed ICEX to comply with its tax obligations under the Income Tax Act, 1961; change its name and not to use the expression "stock exchange" and maintain database of all transactions on its platform for the previous years among others. In an exit order, Sebi said it has reviewed ICEX's valuation report, compliance submissions and undertakings. The bourses declared all known liabilities and assured Sebi it had no undisclosed third-party liabilities. The exchange also undertook full responsibility for any future financial claims that may arise. Accordingly, the Securities and Exchange Board of India (Sebi) has permitted "the exit of the ICEX as a stock exchange and thus the consequent withdrawal of recognition granted to

Indian Commodity Exchange ceases to be recognised bourse: Sebi

The exchange, in its submission, said it would raise investment and restart the trading within one year. However, no action plan has been submitted

Anonymous letter prompts ICEX board to order a forensic audit

A copy of the letter, which alleges misuse of liquidity incentives scheme, was also senr to Sebi

IEX plans to acquire 15% stake in Reliance ADAG platform ICEX

ICEX which offers futures trading in commodities which include rubber, diamond and basmati paddy among others, will issue new shares to IEX

Commodity derivatives trading beyond 5 p.m. discontinued during lockdown

All the five exchanges, including the MCX, NCDEX, and the ICEX, have capped trading timings to 5 pm. The MCX reports maximum trading in the evening session

Sebi proposes one commodity, one exchange model to make India price-setter

The regulator said exchange can be master in one instead of jack of all

Amid low response, MMTC extends tender offer for 6% ICEX stake till Nov 29

MMTC has invited bids for acquisition of up to 3,20,00,000 shares

ICEX witnesses 590 tons of steel delivery in December contract

Launched in August, the first steel long contract expired in November witnessed the delivery of a mere 30 tonnes

ICEX to outsource clearing and settlement from MSE exchange subsidiary

Sebi has mandated that all commodity exchanges shall have independent clearing corporations from October

ICEX's mock trading session for diamond futures attracts huge volumes

The pre-launch mock trading session in diamond futures on Reliance ADAG-anchored Indian Commodity Exchange Ltd (ICEX) has observed Rs.3600 crore average volumes ahead of its launch by month end. The one week mock trading last week saw participation of 62 members and their clients from 388 terminals. These sessions of mock trading observed a daily average turnover of close to Rs 3600 crore with the highest daily turnover standing at Rs 7855 crore. The total number of trades reported during the mock trading sessions stood at over 2.66 million."Pre-launch mock trading was aimed to demonstrate the robustness of the exchange trading system, help member brokers and their clients to have hands on experience about the features of system and processes and educate the participants about price discovery and hedging mechanism. This created confidence in the capabilities of the Exchange to conduct trading and settlement operations," said Sanjit Prasad, managing director and chief executive ...

ICEX gets Sebi nod to go live by August-end

Prior to the launch, ICEX will be stepping up enrolment and training of members

After Sebi nod, ICEX to start live trading again by end of August

Last week, the exchange announced its merger with Ahmedabad-based National Multi-Commodity Exchange

ICEX relaunch stumbles into grey area

Sebi bars shareholders having a trading member as a subsidiary to take a board seat in the same exchange

ICEX plans re-launch in June

Rights issue fully subscribed, valuing it at Rs 250 cr