New Delhi, Dec 14: Country's leading financial service and banking conglomerates, ICICI, IL&FS and Kotak group, have acquired 9.55 per cent stake in Multi Commodity Exchange of India Ltd (MCX) for 1.1 billion dollar.
''I am happy that ICICI Venture is partnering with Financial Technologies in itshighly successful venture, MCX. FT is creating next generation financial markets within India and globally, where the benefit of technology and price transparency empowers the masses to benefit from globalisation,'' ICICI Bank Ltd Managing Director and CEO K V Kamath said.
Over the last few years, commodities futures market in India has experienced an unprecedented growth in terms of the number of modern exchanges, commodities allowed for derivatives trading and the value of futures traded. Among all this, MCX has demonstrated leadership by creating a scalable and technologically sound commodities trading exchange, according to Kotak Mahindra Bank Ltd Executive Vice Chairman and Managing Director Uday Kotak.
Some of the other shareholders in MCX include Merrill Lynch, Citigroup, Fidelity International, State Bank of India, State Bank of Hyderabad, State Bank of Indore, State Bank of Saurashtra, State Bank of Patiala,State Bank of Travancore, State Bank of Mysore, State Bank of Bikaner&Jaipur, SBI Life Insurance Co Ltd, HDFC Bank, National Stock Exchange, NABARD, Canara Bank, Bank of India and Union Bank of India.