NSE, MCX plan merger, could approach Sebi this month: Report
NSE and MCX are in talks to merge and plan to approach the markets regulator Securities and Exchange Board of India (SEBI) as early as this month, reports Business Standard
Mumbai: National Stock Exchange Ltd (NSE) and Multi Commodity Exchange of India Ltd (MCX) are in talks to merge ahead of the implementation of a universal exchange framework in October, Business Standard reported on Friday.
NSE and MCX, the country’s top stock and commodities exchanges, respectively, plan to approach the markets regulator Securities and Exchange Board of India (SEBI) as early as this month, the paper said, citing an unnamed official.
MCX shares jumped as much as 8% in morning trade before trimming the gains to trade 4% higher as of 10.19am.
The newspaper said an NSE spokesperson declined to comment. MCX and NSE did not immediately respond to Reuters requests for comment.
NSE approached MCX for a merger after SEBI allowed exchanges offer trading platform for both equities and commodities derivatives, the newspaper said.
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