Multi Commodity Exchange trims stake in DGCX to 3.4%

Multi Commodity Exchange (MCX), the country’s largest commodity bourse has diluted its stake to 3.4% from the existing 5% in the Dubai Gold and Commodities Exchange (DGCX) through rights issue option. MCX held 10% stake in DGCX when it began operations in 2005 and later reduced it to 5%.

MCX is promoted by Financial Technologies India (FTIL), which currently holds 39% stake in DGCX. FTIL is a co-promoter in Dubai-based bourse.

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.