MCX has appointed PS Reddy as MD, CEO

Independent Commodity Exchange MCX has appointed PS Reddy as the Managing Director of the Company (MD) and Chief Executive Officer (CEO).

Reddy will hold these posts for 5 years after the necessary regulatory approvals, including the market regulator SEBI. 

Reddy will replace Mrugank Paranjape, who has decided not to continue as the second and the second term of the company in the company.

Please note that Reddy has been the MD and CEO of Central Depository Services (CDSL) since March 2009, before MCX. Reddy joined the BSE in 1988 and served on various positions in the stock exchange. By combining CDSL and BSE, their work experience has been for more than 30 years.

On the other hand, MCX shares are in strong position from the news of the appointment of PS Reddy in the market. MCX shares at BSE open at Rs 677.10, compared to the previous closed level of Rs 666.75. After touching an upper level of 681.10 rupees during the session, at around 11 am, it is running at Rs 675.35 with an increase of 8.60 rupees or 1.29%.

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