Jignesh Shah exits MCX

FMC approves commodity bourse's contract-launch calendar for two years

Financial Technologies India Ltd (FTIL) promoter Jignesh Shah on Monday exited the Multi Commodity Exchange (MCX), the country’s largest commodity bourse that he founded in 2003, with FTIL signing an agreement with Kotak Mahindra Bank to sell its 15 per cent stake. “I am sure the Kotak Mahindra group, as a significant minority shareholder, will contribute to MCX’s growth. We look forward to a constructive partnership as its technology partner, ” Shah said. With Kotak’s entry, the exchange is now set to be fully institutionalised. Before signing its ...