SEBI nod for appointment of shareholder director on MCX board

Leading commodity bourse MCX today said regulator Securities and Exchange Board of India (SEBI) has given approval for appointment of Chengalath Jayaram as a shareholder director on its board.

In a BSE filing, MCX said, "We wish to inform you that SEBI has accorded its approval for appointment of Chengalath Jayaram as a shareholder director on the Board of the company in terms of Regulation 24 (1) of Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) Regulations, 2012."

The Board would co-opt him as a shareholder director in its ensuing board meeting, it said.

MCX, which offers futures trading in commodities, has more than 85 per cent share in the commodity futures market.