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India’s NMCE, ICEX to merge creating third biggest commodity exchange

LiveMint logoLiveMint 03-07-2017 Rajendra Jadhav

Mumbai: India’s National Multi Commodity Exchange (NMCE) will merge with Indian Commodity Exchange (ICEX) creating the country’s third biggest commodity exchange, they said in a statement on Monday.

The ICEX will hold a 62.8% stake in the merged entity, while NMCE shareholders will own the rest, the companies said.

The merger has been approved by the boards of both exchanges and is expected to be completed by December, subject to regulatory approvals, the companies said.

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