Slashing of transaction cost by MCX might help SMEs

The threat of potential competition from upcoming Indiabulls-MMTC-promoted Indian Commodity Exchange (ICEX) could have been one of the reasons that prompted Multi Commodity Exchange of India (MCX) to slash transaction costs for its members recently. MCX has denied that the rate revision was to pre-empt competition from ICEX. It stated that the reduction would benefit small and medium-sized businesses to grow along with bigger players. MCX has empanelled around 100 brokers and is confident of opening around mid November.