New Md & Ceo of Mcx is Mrugank Paranjape [ Current Affairs ]

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New managing director (MD) and chief executive officer (CEO) of Multi Commodity Exchange (MCX) a country’s largest commodity exchange is Mrugank Paranjape. The Securities and Exchange Board of India (SEBI) has approved his appointment which is valid for three years.

He was serving as Asia Pacific Head of Trust & Securities Services/Cash Management for Financial Institutions in Deutsche Bank before his appointment.

About Multi Commodity Exchange (MCX):

  • The MCX is India’s first listed commodity futures exchange.
  • It provides online trading, and clearing and settlement of commodity futures transactions.
  • It was founded on 10th November 2003.
  • It works within the supervisory outline of the Forward Contracts Regulation Act (FCRA), 1952.

MCX offers futures trading such as:

  • Bullion
  • Ferrous and non-ferrous Metals,
  • Energy

Number of agricultural commodities viz…

  • Menthe oil
  • Cardamom
  • Potatoes,
  • Palm oil

Globally, MCX ranks at 1st position in silver, 2nd in natural gas, and 3rd in crude oil.

It is India’s largest commodity exchange.

- Published on: March 4, 2016