A little later Multi Commodity Stock Exchange (MCX) was launched by Jignesh Shah, it created a huge stir in the Indian financial market. Very soon, the company rose from being a startup to an industry expert in providing solutions for electronic trading in the Capital Market, Futures & Options, Currency Derivatives, Interest Rate Futures and Debt Market segments. The current stakeholders in the company apprised of the Indian public sector banks, private sector banks, investors and domestic financial institutions. This Mumbai-based bourse reckoned the turnover for previous year at Rs 55.52 trillion as it overtures exchange in bullion, non-ferrous metals, energy and a range of agricultural commodities, such as menthe oil, cardamom, crude palm oil, cotton, etc. During 2012, MCX made a public issue of more than 60 lakh equity shares with the face value of Rs10 each. The price band for respective shares stood between Rs 860-1,032 per equity share. The company managed to raise around $134 million from that issue. Such historic accomplishment was recorded as the first ever IPO by an Indian stock exchange that made MCX, the only publicly listed exchange in India. The growth of this stock exchange is exemplary. During the first quarter of 2016, MCX stood at 88.8% of market shares that makes it India’s finest commodity exchange. Also during this period, the average daily turnover of MCX was exhibited as Rs 245.91 billion. The futures contracts in Gold, Silver, Copper, and Crude Oil offered by MCX were ranked among the top 20 global futures contracts in their respective segments during 2015. MCX has beaten all odds and has established several alliances with leading exchanges across the globe. Further, MCX is extended to over 1,700 Indian domains by virtue of its 5, 85,000 trading terminals. FTIL Founder - Jignesh Shah’s vision of having a commodity exchange in India contributed to the nation’s prosperity at global levels.
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