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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