The request for proposals issued on October 17 says that whereas the options system will initially be used for commodity derivatives buying and selling, it must be “extensible” to commodity spot, fairness and fairness associated derivatives , debt , forex derivatives and rate of interest derivatives to be able to “achieve” the “vision” of MCX to change into a common change. The reduce off date for the submission of the request for proposal or bids is November 20, 2020.
Under the present association, it has leased the know-how , and any tweaks or use for different segments , like fairness and many others, entail having a separate licensing association with the seller. MCX pays a set and variable value to the present vendor. Essentially, the supply code lies with the know-how vendor and never with the bourse.
63 moons, the erstwhile Financial Technologies, based MCX again in 2003. After a cost disaster in its subsidiary NSEL surfaced in 2013, it was pressured to promote stake in MCX by then regulator Forward Markets Commission. It fully exited the bourse in 2014, promoting 15% stake to Kotak Mahindra Bank.
MCX enjoys a 95% market share offering buying and selling platform in metals and power. It is a publicly listed firm, with the share closing at 1741 on Friday. As a common -enabled change it can compete with the likes of NSE and BSE.