1. Home
  2.  |  
  3. News Capsule  |  

Jignesh Shah resigned from MCX Board

Nov 2, 2013 12:40 IST

Jignesh Shah, founder, vice-chairman and a Director of Multi-Commodity Exchange (MCX), resigned from the board on 31 October 2013.

The commodity exchange regulator, Forward Markets Commission (FMC), had issued show-cause notices to Jignesh Shah; former Managing Director and CEO of MCX Shreekant Javalgekar; and another board member Joseph Massey on 4 October 2013 questioning their fit and proper status to operate MCX. Shreekant Javalgekar and Massey have already resigned from the MCX board.

The MCX was promoted by Jignesh Shah-led Financial Technologies India Ltd (FTIL), which is also promoted the now-defunct National Spot Exchange Ltd (NSEL). (MCX is 26 percent owned by Financial Technologies, of which Jignesh Shah is founder, chairman and CEO).

About MCX

The Multi Commodity Exchange of India Limited (MCX), India’s first listed exchange, is a state-of-the-art, commodity futures exchange that facilitates online trading, and clearing and settlement of commodity futures transactions, thereby providing a platform for risk management.
 
The Multi Commodity Exchange, which started operations in November 2003, operates within the regulatory framework of the Forward Contracts Regulation Act, 1952 (FCRA, 1952).

Is this article important for exams ? Yes21 People Agreed
Read more Current Affairs on: Multi Commodity Exchange (MCX) , Jignesh Shah

Latest Videos

Register to get FREE updates

    All Fields Mandatory
  • (Ex:9123456789)
  • Please Select Your Interest
  • Please specify

  • ajax-loader
  • A verifcation code has been sent to
    your mobile number

    Please enter the verification code below

This website uses cookie or similar technologies, to enhance your browsing experience and provide personalised recommendations. By continuing to use our website, you agree to our Privacy Policy and Cookie Policy. OK