Monday, January 15, 2007

MCX to fine abnormal trades

Taking one of the most stringent precautionary measures in the commodities futures trade, the Multi Commodity Exchange (MCX) has levied a penalty of Rs. 5,000 for any abnormal trade recorded on its platform. Effective December 18 2006, the action is primarily meant for avoiding any possibility of price manipulation in illiquid commodities where the spread between bid and ask is long.


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