MCX secures SEBI approval for 100cr coal exchange in India
Business
MCX just got SEBI's approval to invest in and incorporate a subsidiary for a proposed coal exchange in India.
With an investment of up to ₹100 crore, this digital platform will help connect buyers and sellers for real, physical coal, making pricing more transparent and trading smoother.
It's a big step for MCX as they work to meet new rules and boost their presence in the energy market.
MCX expands energy trading lineup
Coal is still a huge deal for India's power and industry needs, so having a dedicated exchange could make things fairer and more efficient.
MCX will start off owning the whole thing but plans to bring in partners down the line.
This move also adds to their lineup of energy trading options like crude oil, natural gas, and electricity futures.