Multi Commodity Exchange of India (MCX) has received commodity markets regulator -- Forward Markets Commission’s (FMC) – approval for acquisition of up to 5% of the equity share capital in the company by Axis Mutual Fund and Reliance Mutual Fund. According to the shareholding pattern, Reliance Mutual Fund had 2.16 percent and Axis Mutual Fund had 1.95 per cent stake in MCX as on December 31, 2014. Both the funds had separately approached FMC, seeking approval to raise their stake in MCX, as per the revised shareholding norms issued by the Commission in May last year.
MCX, the leading commodity bourse, largely offers futures trading in non-agricultural commodities. The exchange contributes maximum business to the total turnover of the commodity futures market.
