Credit rating agency Crisil has assigned the highest (5/5) grade to the proposed initial public offer (IPO) of India’s largest commodity exchange, the Multi Commodity Exchange (MCX). This grade indicates the IPO’s fundamentals are ‘strong’ and reflects MCX’s leadership in the commodity futures market over the past four years, with around 82 per cent share of the overall traded turnover.
It is the leader in the trading of bullion, crude oil, copper and natural gas accounting for around 85 per cent. With a strong technology-backed trading platform and infrastructure (supplied by promoter Financial Technologies India Ltd), MCX has been able to provide high liquidity and low impact cost of transactions, said CRISIL.
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