Multi Commodity Exchange of India Ltd (MCX), the country's largest commodity exchange, on 29 February 2016 appointed Mrugank Paranjape as its Managing Director (MD) and Chief Executive Office (CEO).
The appointment of Paranjape is valid for a period of three years, subject to prior approval from SEBI.
Since May 2014, the exchange was functioning without an MD. P K Singhal was handling the affairs of the exchange as joint MD.
Who is Mrugank Paranjape?
• Mrugank Paranjape has been working with Deutsche Bank since last 14 years.
• At present, he is the India Head of Deutsche Bank.
• He has also served as the Asia Pacific Head of Trust & Securities Services/Cash Management for Financial Institutions and Regional Head of Securities for The Global Network Banking Division, Deutsche Bank (Malaysia) Berhad.
About Multi Commodity Exchange of India Ltd
• MCX is an independent commodity exchange based in India.
• It was established in 2003 and is based in Mumbai.
• In 2009, it was the world's sixth largest commodity exchange.
• It is India's No. 1 commodity exchange with 84% market share in 2014-15.
• The exchange's main competitor is National Commodity & Derivatives Exchange Ltd.
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