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MCX Plans Coal, Mineral Trading Platforms as India Opens Up Markets

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Multi Commodity Exchange of India (NSE:MCX, BOM:534091) said India's securities regulator, SEBI, has approved its investment in a proposed mineral spot exchange, Bloomberg News reported, citing Managing Director Praveena Rai.

MCX plans to invest about 2 billion rupees across new coal and minerals trading platforms, with about 1 billion rupees each, according to the report.

The exchange said in a filing dated Aug. 12 that SEBI had approved its investment in the proposed Mineral Spot Exchange Company.

The approval follows the incorporation of MCX Coal Exchange of India as a wholly owned subsidiary on June 12, the company said.

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