Multi-Commodity Exchange has announced appointment of Mrugank Paranjape as MD & CEO of the exchange. The appointment will be for a period of three years, subject to prior approval from Sebi and such other approvals as may be necessary. Since May 2014, the exchange was functioning without an MD. PK Singhal was handling the affairs of the exchange as joint MD.  Now with the appointment of the MD, Singhal has been re-designated as the President and Whole Time Director effective April 01, 2016.

Mrugank Paranjape has been working with Deutsche Bank since last 14 years. Last he was heading DB Center of the bank.

Multi-Commodity Exchange

• Multi Commodity Exchange of India Ltd (MCX) is an independent commodity exchange based inIndia. It was established in 2003 and is based in Mumbai.
• The turnover of the exchange for the fiscal year 2014-15 was Rs. 51.84 lakh crore, and in terms of contracts traded, it was in 2009 the world’s sixth largest commodity exchange.
• MCX offers futures trading in bullion, non-ferrous metals, energy, and a number of agricultural commodities (mentha oil, cardamom, crude, palm oil, cotton and others).
• MCX is India’s No. 1 commodity exchange with 84% market share in 2014-15
• MCX now reaches out to about 1879 cities and towns in India with the help of about 4,86,000 trading terminals.
• MCX COMDEX is India’s first and only composite commodity futures price index