Banks take stakes in India's MCX

07 Jun 2004

Multi Commodity Exchange of India has attracted three local banks - Union Bank of India, Corporation Bank, and Bank of India - as strategic equity partners.

Union Bank and Corporation Bank are each taking a 2%...

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“The fact is, an awful lot of people would be very happy for all business to be transacted over the counter. Transparency is good for the consumer, but privacy is better for the banks and the brokers. Wherever there’s a grey area, it’s possible to make money.”

European consultants predict frantic lobbying during the Mifid review.