Multi Commodity Exchange of India Ltd Share Price – NSE  /  BSE

Financial Services, Small Cap

Multi Commodity Exchange of India will hold a meeting of the Board of Directors of the Company on 23 April 2024.

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Jakarta Futures Exchange (JFX) is the first futures exchange in Indonesia. The main role of JFX is to provide facilities for its members to conduct futures contract transactions, based on supply and demand in the electronic trading system; as a result, pricing is formed organically.

The MoU has signed to enhance collaboration in key areas, including knowledge sharing, research, education, training, awareness creation, and other market development initiatives.

Speaking on the occasion, P. S. Reddy, MD & CEO, MCX said, “I believe this partnership will contribute to the advancement of both marketplaces through sharing of knowledge, best practices, education, and facilitate market development in their respective regions. We look forward to fostering a lasting and mutually rewarding relationship with JFX.”

Stephanus Paulus Lumintang, president director of JFX said, “We are elated on the signing of this MOU, as it opens up exciting new avenues of growth for both MCX and JFX. We believe it is a significant milestone in fostering cooperation and collaboration between both exchanges, ultimately opening up new opportunities for traders of both countries in the derivatives market. We are optimistically looking forward towards leveraging our respective strength, resources and expertise to create opportunities and achieve shared objectives.”

Multi Commodity Exchange of India (MCX) is India’s first listed, national-level, electronic exchange, and India’s leading commodity derivatives exchange with a market share of about 95.2% in terms of the value of commodity futures contracts traded in financial year 2023-24. MCX offers the benefits of fair price discovery and price risk management to the Indian commodity market ecosystem.

The company reported net loss of Rs 5.35 crore in Q3 FY24 as compared with net profit of Rs 38.79 crore in Q3 FY23. Revenue from operations jumped 33.41% YoY to Rs 191.53 crore in Q3 FY24.

The scrip shed 0.03% to Rs 3660.20 on the BSE.

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Multi Commodity Exchange of India and the Jakarta Futures Exchange (JFX) (i.e. PT. Bursa Berjangka Jakarta), the largest exchange in Commodity and Derivatives market in Indonesia, have entered into a Memorandum of Understanding (MoU) to enhance collaboration in key areas, including knowledge sharing, research, education, training, awareness creation, and other market development initiatives.

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Revenue from operations jumped 33.41% YoY to Rs 191.53 crore in Q3 FY24.

The firm posted a negative EBITDA of Rs 1.79 crore for the third quarter as against positive EBITDA of Rs 44.14 crore reported in Q3 FY23, mainly on account of payment made to technology vendor and contribution to SGF.

The contribution to settlement guarantee fund (SGF) stood at Rs 759.09 crore in Q3 FY24.

Average daily turnover (ADT) of futures increased 10.8% to Rs 20,796 crore in Q3 FY24 as compared with Rs 24,265 crore posted in corresponding quarterlast year.

The options’ ADT increased by 38.7% to Rs 95,989 crore in Q3 FY24 from Rs 39,402 crore in Q3 FY23.

During the quarter, the number of total traded clients stood at 4.77 lakh, witnessing a significant growth rate of 46.77% over the previous year.

Meanwhile, the company had divested its balance stake of 500 shares in Dubai Gold Exchange (DGCX) in 2018. RBI had observed that the company had sold the shares under automatic route and not under prior approval route, a contravention under Regulation 16 (i)(vi) read with Regulation 16 (3) of FEMA 120 and the same has been compounded by RBI with a compounding fee of Rs 4, 50, 000.

RBI had observed that the company had divested from its overseas joint venture under automatic route and had not applied to RBI under prior approval route.

Multi Commodity Exchange of India (MCX) is India’s first listed, national-level, electronic exchange, and India’s leading commodity derivatives exchange with a market share of about 95.2% in terms of the value of commodity futures contracts traded in financial year 2023-24. MCX offers the benefits of fair price discovery and price risk management to the Indian commodity market ecosystem.

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