Deutsche Bank executive Mrugank Paranjape took over as Managing Director and Chief Executive Officer of the Multi Commodity Exchange (MCX), which has been headless for two years. For the past two years, the affairs of the exchange had been handled by joint managing director P.K. Singhal, who was re-designated as the president and whole-time director of the exchange on 1 April.

Prior to joining MCX, Paranjape was the India Head of DB Centre of Deutsche Bank across all business divisions and business aligned control functions for 14 years.

• Multi Commodity Exchange of India Ltd (MCX) is an independent commodity exchange based in India.
• It was established in 2003 and is based in Mumbai.
• It is India’s largest commodity futures exchange and the turnover of the exchange for the year 2015 was 55.52 trillion rupees (865.55 billion US dollars).
• 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).
• In 2015, MCX was sixth among the global commodity bourses in terms of the number of futures contracts traded, the latest yearly data from Futures Industry Association (FIA) showed.
• From September 28, 2015, MCX is being regulated by the Securities and Exchange Board of India (SEBI). Earlier MCX was regulated by the Forward Markets Commission (FMC), which got merged with the SEBI on September 28, 2015.