Mrugank Paranjape appointed as MD & CEO of MCX

Mrugank Paranjape appointed as MD & CEO of MCX

  • Mrugank Paranjape has been appointed as MD & CEO of Multi-Commodity Exchange (MCX),  an independent commodity exchange based in India.
  • The appointment will be for a period of three years, subject to prior approval from Sebi and such other approvals as may be necessary.
  • Prior to this appointment he was working with Deutsche Bankas Asia Pacific Head of Trust & Securities Services/Cash Management for Financial Institutions.

Multi Commodity Exchange (MCX)

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  • Multi Commodity Exchange of India Ltd (MCX) is India’s No.1 commodity exchange with 84% market share in 2014-15.
  • MCX has several strategic alliances with leading exchanges across the globe with a normal daily  turnover of  Rs. 20,328.26 crore.
  • It started functioning  in November 2003 under the regulatory framework of the Forward Contracts Regulation Act (FCRA), 1952.
  • MCX offers futures trading in bullion, ferrous and non-ferrous metals, energy, and a number of agricultural commodities (mentha oil, cardamom, potatoes, palm oil etc). It ranks no. 1 in silver, no. 2 in natural gas, no. 3 in crude oil. The highest traded item is gold.