MCX to launch coal and minerals exchanges by April 1
MCX (Multi Commodity Exchange of India) is gearing up to launch two new exchanges (one for coal, one for minerals) by April 1.
Thanks to new government rules, trading in things like coal, iron ore, and bauxite will now happen on dedicated platforms.
The big idea here: improve price discovery and transparency in the domestic market.
MCX commits ₹200 cr for exchanges
MCX is investing ₹200 crore (about $21 million) into these new exchanges, with support already from SEBI (the market regulator).
They're just waiting on a couple more approvals before going live.
The government has also rolled out reforms to let buyers and sellers trade through centralized online platforms. Plus, there's a brand-new portal for coal exchange licenses, making it easier for prices to be set locally instead of being dictated by global markets.