Anil Ambani’s ICEX, Metropolitan Stock Exchange initiate merger talks
Two Indian exchanges -- Anil Dhirubhai Ambani Group-promoted Indian Commodity Exchange (ICEX) and Metropolitan Stock Exchange (MSE) – are in initial talks for a merger, sources told Moneycontrol. MSE does not have much of a product list. It has only one active currency product and was struggling to raise capital to comply with the market regulator’s net worth criteria for an exchange and clearing corporation. However, it raised around Rs 200 crore in 2017 to fund its current operations, thus meeting the regulatory criteria. Read more at: https://www.moneycontrol.com/news/business/exclusive-anil-ambanis-icex-metropolitan-stock-exchange-initiate-merger-talks-3966981.html
Two Indian exchanges -- Anil Dhirubhai Ambani Group-promoted Indian Commodity Exchange (ICEX) and Metropolitan Stock Exchange (MSE) – are in initial talks for a merger, sources told Moneycontrol.
MSE does not have much of a product list. It has only one active currency product and was struggling to raise capital to comply with the market regulator’s net worth criteria for an exchange and clearing corporation. However, it raised around Rs 200 crore in 2017 to fund its current operations, thus meeting the regulatory criteria.
Read more at:
https://www.moneycontrol.com/news/business/exclusive-anil-ambanis-icex-metropolitan-stock-exchange-initiate-merger-talks-3966981.html