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Our Bureau

Mumbai, Dec 18

MCX has warned members against rigging prices of illiquid contracts. In a circular to its members, MCX has said: "We have noticed that some of the trades have been executed at abnormally high price differences in illiquid commodities between different or same client of the same member or between two members, which may be described as abnormal trades." The decision on "abnormal trades" would be taken by the exchange, which would be final and binding on all members.

FMC has imposed a minimum penalty of Rs 5,000 on any member indulging in abnormal trading. Multiple instances of such trades by a member will be viewed seriously by the exchange which reserves the right to impose additional penalty and/or take additional disciplinary action, MCX warned.

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MCX warning on price rigging

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