MSEI, ICEX initiate merger talks; Sebi may give nod to move, say sources

Both deny any such immediate plan even as sources say Sebi is likely to give nod to the move

The Metropolitan Stock Exchange (MSEI) and Anil Ambani’s Reliance Capital-anchored Indian Commodity Exchange (ICEX) have initiated a merger talk, people in the knowledge of the development said. The two exchanges, however, denied any immediate plan of merger

The MSEI, once a market leader in currency derivatives, is now reduced to being a small player with a significant fall in currency derivatives volume – the daily average in July 2018 was Rs 381 crore, but it fell to Rs 154 crore in April 2019. The exchange holds license for the equities segment but trades are insignificant.

In business terms, Clearing Corporation set up