Financial Tech shares gain over 7% on fresh deal with MCX

Shares of Financial Technologies (FTIL) today jumped over seven per cent after commodity exchange MCX's board approved a new agreement with Jignesh Shah-led firm for availing technological support and services.
FTIL's stock soared 6.91 per cent to end at Rs 217.45 on the BSE. During intra-day, it surged 9.14 per cent to Rs 222.
At the NSE, the scrip climbed 7.27 per cent to close at Rs 217.60.
Shares of MCX rose 1.57 per cent to settle at Rs 786.50 on the BSE.
Commodity exchange MCX had yesterday said its board has approved a new agreement with FTIL for availing technological support and services, paving the way for the bourse to launch new contracts for January-March period of 2015.

MCX, which is already using the technology provided by its erstwhile promoter Financial Technologies (FTIL), is likely to sign a new agreement in the next few days.

On September 17, the commodity markets regulator FMC had said the exchange can launch new contracts for three months -- January, February and March 2015 -- after it signs a fresh technology deal with FTIL.
In a filing to BSE, MCX had said the Board has approved "the master amendment to principal agreements to be entered into between MCX and FTIL for availing technology support and managed services on such terms & conditions as contained therein".

Pursuant to this agreement, MCX would continue to avail technology support and managed services from FTIL, it had said.