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ICEX weighs UCX proposal for buyout

Posted on 11 September 2013

The decade-old commodity futures market might witness consolidation for the first time with Indian Commodity Exchange (ICEX), owned jointly by Reliance Capital, MMTC and Indiabulls, mulling over a proposal to be acquired by rival bourse Universal Commodity Exchange (UCX).
UCX has been promoted by Ketan Sheth-owned listed exchange solutions provider Commex Technology. “The proposal was discussed and minuted at an ICEX board meeting held a month ago…..A decision can be taken once the valuation and due diligence is completed,” said two people aware of the development………………………………………..Full Article: Source


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