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Multi Commodity Exchange of India > Company History > Miscellaneous > Company History of Multi Commodity Exchange of India - BSE: 534091, NSE: MCX
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Multi Commodity Exchange of India
BSE: 534091|NSE: MCX|ISIN: INE745G01035|SECTOR: Miscellaneous
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Company History - Multi Commodity Exchange of India
We are a de-mutualised multi commodity association and were
 incorporated on 
 April 19, 2002 under the name Multi Commodity Exchange of India
 Private 
 Limited. The subscribers to the Memorandum of Association were
 V.Hariharan 
 and Rinsy Ansalam. Further allotments were made to La-Fin Financial
 Services 
 Private Limited, Sajit Dayanandan, Dewang Neralla, Ajay Narsimhan and
 Manjay 
 Shah on April 22, 2002. Subsequently, on May 16,2002, we were
 converted into 
 a public company and consequently our name was changed to Multi
 Commodity
 Exchange of India Limited. We received a fresh certificate of
 incorporation 
 from the RoC pursuant to the change in our name on May 28, 2002. All
 the then 
 existing shareholders transferred their shares to FTIL, our Promoter,
 on
 August 25, 2003. We received permanent recognition from the
 Government of 
 India for facilitating online trading,clearing and settlement
 operations for 
 commodity futures markets across the country on September 26, 2003.
 Online
 futures trading commenced on MCX in November 2003. We received
 non-promoter 
 equity participation for the first time in the year 2004 when Bank of
 India, 
 Union Bank and Corporation Bank invested in the Equity Shares of our
 Company. 
 Since then, we have received equity participation from various banks
 and 
 financial institutions, including State Bank of India in July 2004,
 HDFC Bank 
 Limited in March 2005, the NSE in May 2005 and NABARD in June 2005.
 Fidelity 
 Funds-India Focus Funds (FID Funds (Mauritius) Limited) also invested
 in our 
 Company by subscribing to 3,600,000 Equity Shares of face value Rs.
 10 each on 
 February 3, 2006. During Fiscal 2008, our Promoter, FTIL, sold
 1,953,770 Equity 
 Shares of Rs. 10 each to each of Citigroup Strategic Holdings
 Mauritius Limited 
 and Merrill Lynch Holdings (Mauritius), 1,563,016 equity shares of
 face value 
 of Rs. 5 each to GLG Financial Funds, 2,344,524 equity shares of face
 value 
 Rs. 5 each to Passport India Investment (Mauritius) Limited,
 2,476,190
 equity shares of face value Rs. 5 each to ICICI Trusteeship Services
 Limited, 
 296,000 equity shares of face value Rs.5 each to ICICI Lombard
 General Insurance 
 Company Limited, 3,907,540 equity shares of face value Rs. 5 each to
 IL&FS 
 Trust Company Limited, 781,508 equity shares of face value Rs. 5 each
 to each 
 of New Vernon Private Equity Limited, Kotak Mahindra Trusteeship
 Services 
 Limited and Alexandra Mauritius Limited. In June 2008, FTIL sold
 3,907,540 equity shares of face value Rs. 5 each to Euronext N.V.
 
 
 Some of the key milestones of our Company are as follows: -
 
  2002
 
 Our Company was converted into a public limited company and our
 Company‘s name
 was changed to Multi Commodity Exchange of India Limited
 
 2003
 
 Our Company received permanent recognition from the Ministry of
 Consumer Affairs,
 Food and Public Distribution, Government of India
 
 First day of trading for our Company
 
 Online futures trading during evening session and through Internet
 trading 
 facilities was pioneered
 
 2004
 
 MoU entered into between FTIL and NAFED to create a national level
 agricultural 
 spot exchange.
 
 2005
 
 Launch of composite commodity futures index (MCX-COMDEX) by our
 Company
 
 Commodity Suchana Kendra‘, a joint initiative between our Company,
 Maharashtra 
 State Agricultural Marketing Board (MSAMB?) and NSEAP to link up all
 Agriculture
 Produce Market Committee (APMC?) markets, was launched at the
 Agriculture Produce
 Market Committee, Navi Mumbai.
 
 Our Company entered into a license agreement with London Metal
 Exchange (LME?)
 for the use of the LME‘s official prices as the basis for settlement
 of certain 
 futures contracts
 
 Our Company entered into a MoU with the University of Mumbai for
 creating a chair 
 in its department of economics.
 
 2006
 
 Our Company signed a license agreement with NYMEX
 
 Our Company teamed up with the Department of Posts, Government of
 India, to launch
 Gramin Suvidha Kendra in Jalgaon, Maharashtra, for information
 dissemination and
 query redressal on agricultural issues to farmers using the Indian
 postal network.
 
 Our Company signed an agreement with Euronext.LIFFE
 
 2007
 
 Our Company obtained ISO/IEC 27001: 2005 certification
 
 2008
 
 Our Company was granted membership to the International Organisation
 of Securities
 Commissions (IOSCO).
 
 Launch of futures in CER (Certified Emission Reduction) by our
 Company
 
 Launch of the Gujarati and Hindi version of website mcxindia.com by
 our Company
 
 Our Company was awarded the ?Golden Peacock Eco-innovation award
 2008? by the Institute 
 of Directors
 
 
 Our Company was recognized as ?India‘s First Green Exchange? by
 Priyadarshini Academy
 
 Our Company received the ?Best Bullion Exchange of the Year? award
 from the Bombay Bullion
 Association
 
 2009
 
 Our Company released India‘s first Yearbook on Indian Commodity
 Ecosystem in
 collaboration with PricewaterhouseCoopers
 
 Our Company launched ?Exchange of Futures for Physicals? (EFP)
 transactions
 
 Our Company received the ?Sankalp Award? for Agriculture and Rural
 Innovation.
 
 2010
 
 Our Company signed an MoU with Shanghai Futures Exchange
 
 Our Company was recertified to ISO 9001:2008 Quality Management
 System standard 
 by Bureau Veritas Certification (India)
 
 Our Company released Commodity Insights Yearbook 2010 in
 collaboration with PwC
 
 Our Company entered into an MoU with Taiwan Futures Exchange (TAIFEX)
 to develop
 commodity futures market in India
 
 Our Company received the NASSCOM Foundation Social Innovation Honours
 2010
 
 Our Company received the FICCI Socio Economic Development Foundation
 (SEDF) Corporate 
 Social Responsibility Award 2009-10
 
 Our Company received the Best Commodity Exchange of the Year award
 from the Bombay 
 Bullion Association
 
  2011
 
 Our Company recorded its highest daily turnover since inception of
 Rs. 1,116.66 billion
 
 Our Company is the world‘s fifth largest commodity futures exchange
 among all the
 commodity exchanges considered in the Futures Industry Association
 survey in terms 
 of the number of futures contracts traded during the period January
 to June 2011
 
 Our Company received the Financial Inclusion Award 2011 from the
 SKOCH Foundation
 
 Our Company won the Indy‘s award under the category Best in Corporate
 Social Responsibility
 practices.
 
 Our Company was selected as a Business Superbrand for the year 2010 –
 2011
 
 Our Company won Bombay Bullion Association‘s Best Commodity Exchange
 of the Year award.
  
 2012
 
 -MCX launches IPO to raise Rs 750 crore by month-end
 
 -MCX shakes hands with New York Institute of Finance to offer
 certification courses in India
 
 -MCX set to become full-fledged bourse as SEBI approves equity
 trading proposal.
Source : Dion Global Solutions Limited
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