MCX warns market

23 Oct 2006

Commodity markets in India, especially in illiquid products, have been subject to trading at abnormal prices, according to the country's Multi Commodity Exchange (MCX). As a result, the exchange threatened sanctions against members participating in such trades, including disciplinary...

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"While we support its overall direction, a number of the requirements in the review are needlessly oppressive, particularly the proposed limits on execution-only business and bilateral execution. Additionally, the swathe of costly disclosure obligations is more likely to confuse than inform customers.”

The FOA's Anthony Belchambers responds to the EC's Mifid review.