 "Change in functions of commexes’ clearing corporations")
Clearing corporations, being set up by the leading commodity exchanges Multi Commodity Exchange (MCX) and National Commodity and Derivatives Exchange (NCDEX), are readying plans to go live in April.
An important change in clearing corporations will be that they will give only financial counter-party guarantees for clearing and settlement. There will be no guarantees for physical deliveries.
The Securities and Exchange Board of India (Sebi) is understood to have given in-principle approval to by-laws prepared by these clearing corporations.
The MCX’s clearing corporation has invited applications for managing director (MD) and chief executive officer (CEO) and expects the MD to be in
