Thursday, 22 February 2018

MCX raises maximum compensation limit to Rs.25 lakh from IPF


Commodity tips
MCX (Multi Commodity Exchange of India) on Thursday announced the enhancement of maximum compensation that could be availed by investors to Rs. 25.00 lakhs from the existing Rs.2.00 lakhs per claim.

MCX has established and maintained an Investor Protection Fund viz. Multi Commodity Exchange Investor (Client) Protection Fund (MCX IPF), with the aim of compensating investors in the event of defaulters' assets not being adequate to meet the legitimate claims of investors.

MCX also promotes investor awareness and education to increase literacy, participation in the commodity derivatives market and utilized for such other purpose as prescribed by the Sebi.
The maximum amount of compensation available against a single claim of an investor arising out of default of a member of exchange is presently Rs. 2.00 besides the maximum available compensation being Rs.2.00 crore per defaulter member.

In today’s, NSE Closing hours, shares of Multi Commodity Exchange of India Ltd was traded at Rs. 744.75 down by 2.14% at Rs.744.75 as compared to the previous close of Rs. 761.00. The stock hit an intraday high and low of Rs. 759.40 and 741.15


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