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The 5 percent equity investment is the maximum equity interest permitted by a single foreign investor in exchanges under current Indian law.
“Asia pacific is a strong, growing region for global capital markets and we formalize our intent to be a part of that growth by investing in and working with MCX” said Lawrence Leibowitz, NYSE Euronext's group executive vice president. Speaking on the occasion MD and CEO, MCX, Joseph Massey said, “The strategic investment by NYSE in MCX takes our relationship to the next level and we see it as strategically important in the global context.” MCX is one of the seven exchanges for trading in derivatives and spot in commodities, metals, energy, soft and power etc. “This strategic partnership is an excellent case study of how we plan to work together with global partners like NYSE Euronext to create one of the largest global exchange networks across the fast growing economies of the world” said Jignesh Shah, chairman and Cheif executive officer, financial technologies group and vice president, MCX. Currently there are 14 corporate listings from India on NYSE Euronext markets whose combined total global market capitalization is about Rs 386,000 crore. Source: Business Standard |