MCX is soon coming with an IPO, which is expected to play a pivotal role in bringing the sensex to a healthy level.
Incorporated in 2003, Multi Commodity Exchange of India Ltd (MCX) is India based electronic commodity futures exchange. MCX provides online trading facility along with clearing and settlement operations for commodity futures across India. The demutualised Exchange set up by Financial Technologies (India) Ltd (FTIL).
MCX is the largest commodity futures exchange in India and holds market share of around 80%. MCX allows trading in more than 50 commodities across sectors like bullion, metals, energy, weather, and agricultural products. MCX offers more than 40 commodities across various segments such as bullion, ferrous and non-ferrous metals and a number of agri-commodities on its platform. The Exchange is the world’s largest exchange in Silver, the second largest in Gold, Copper and Natural Gas and the third largest in Crude Oil futures, with respect to the number of futures contracts traded.
MCX has more than 2000 registered members operating through over 100,000 trader work stations, across India. MCX emerged as the sixth largest exchange in the world.
MCX IPO Grading
CRISIL Equities has assigned an IPO Grade 5 to MCX IPO. This means as per CRISIL, company has ‘Above Average Fundamentals’. CRISIL assigns IPO grading on a scale of 5 to 1, with Grade 5 indicating strong fundamentals and Grade 1 indicating poor fundamentals.