• News
  • Columns
  • Interviews
  • BW Communities
  • Events
  • BW TV
  • Subscribe to Print
  • Editorial Calendar 19-20
BW Businessworld

On To The Next Round

Photo Credit :

On 13 March, the Bombay High Court overturned the Securities and Exchange Board of India's (Sebi) order denying the Multi-Commodity Exchange (MCX) a  chance to start an equity trading platform. This could take the court battle to the next level: the Supreme Court.

Sebi's rejection of MCX's request was based on its assessment that another stock exchange would not be in the best interest of investors and the public.

Do we need another stock exchange? Some analysts say the National Stock Exchange (NSE) is a near monopoly, a status it achieved with superior technology; MCX, that has a monopoly in commodities trading, with similar levels of technological efficiency, would offer stiff competition.

Here's what we know about the stock exchange trading business: the world over, exchanges specialise in financial instruments; the NSE, however, has no leadership in trading exchange rate derivatives. Sebi has a month to consider the high court's decision.


British fashion retailer French Connection's pre-tax profits fell to a 40-year low of $7.87 million. "We are reviewing our retail operations (in the UK) to improve sales and margin in this core business," chairman and CEO Stephen Marks said.

(This story was published in Businessworld Issue Dated 26-03-2012)