Institutional Trading Platform Itp

The role of TReDS is set to go up significantly: M1xchange's Mohindru

Sundeep Mohindru, founder-director of M1xchange, interacted with Raghu Mohan via email on the issues facing MSMEs

Supreme Court takes over PILs seeking ban on opinion trading platforms

The Supreme Court on Thursday transferred from high courts to itself, four PILs seeking a ban on opinion trading platforms for allegedly promoting illegal betting and gambling activities. A bench comprising Justices J B Pardiwala and R Mahadevan passed the order in a transfer petition of Probo Media Technologies Pvt Ltd, a firm which operates one such opinion trading platform. The bench, in its order, noted the factual position with regard to petitions pending in different high courts. Senior advocate Abhishek M Singhvi, appearing for the petitioner, said there were two petitions in the nature of PIL pending before the Bombay High Court. He said the third PIL is pending before the Gujarat High Court and the fourth before the Chhattisgarh High Court. Singhvi said the PILs from other high courts could be transferred to the Bombay High Court. Rejecting the submission, the bench said, All these four PILs should be heard by this court...we direct the High Court of Bombay, High Court o

Filter Capital invests $10 mn in trade discounting platform M1xchange

Growth-stage investment firm Filter Capital on Monday said it has invested approximately USD 10 million (Rs 85 crore) in trade receivables discounting system platform M1xchange. This investment, made through a secondary transaction, highlights Filter Capital's belief in the potential of digital supply chain finance in driving financial access for India's micro, small and medium-sized businesses, it said in a statement. M1xchange, set up by Sundeep Mohindru and Vivek Misra, claims to facilitate invoice financing of nearly Rs 10,000 crore each month, enabling MSMEs with faster access to working capital and driving adoption across corporates, vendors, and financial institutions. According to the platform, India's supply chain finance sector is witnessing accelerated growth, driven by the need for faster-working capital access for MSMEs and digital transformation across industries. With the RBI's TReDS framework, digital platforms are increasingly becoming the backbone of MSME financin

Sebi warns investors against using unauthorised virtual trading platforms

Markets regulator Sebi on Monday cautioned investors against undertaking trading activities through virtual trading or gaming platforms and asked them to deal only through registered intermediaries. The advisory statement came after the Securities and Exchange Board of India (Sebi) noticed that some apps /web applications / platforms are offering virtual trading services or paper trading or fantasy games to the public based on stock price data of listed companies. Such activities are in violation of Securities Contract (Regulation) Act, 1956 and Sebi Act, 1992 which are laws designed to protect investors, the regulator said. In a statement, Sebi reiterated that the public can invest and undertake trading activities in the securities markets only through/with registered intermediaries. "Participation in unauthorized schemes, including sharing of confidential and personal trading data, is at the investors' own risk, cost and consequences, as such schemes / platforms are not registere

Finance platform Drip Capital raises $113 mn through debt, equity issue

US-based trade finance platform Drip Capital, which has 90 per cent employees in India, secured USD 113 million, about Rs 949 crore, through a mix of debt and equity issue, the company said on Thursday. The funding includes USD 23 million equity investment from Japanese institutional investors GMO Payment Gateway and Sumitomo Mitsui Banking Corporation (SMBC), while it has raised USD 90 million in debt financing led by the International Finance Corporation (IFC) and East West Bank. "We have raised USD 113 million which is a mix of debt and equity investment. Japanese institutional investors GMO Payment Gateway and Sumitomo Mitsui Banking Corporation (SMBC) have invested USD 23 million in equity while USD 90 million in debt financing has been led by the International Finance Corporation (IFC) and East West Bank," Drip Capital Co-Founder and CEO Pushkar Mukewar said. He said that the company funds trade worth USD 1.8-2 billion annually and 50-60 per cent of its business originates fro

Sebi constitutes a committee to review institutional trading platform

The platform is essentially aimed at facilitating new-age companies operating in sectors like e-commerce and data analytics