The MCX-SX board met in Mumbai on Friday and has appointed an audit firm to comprehensively audit/review the Exchange since inception.

According to sources, Ernst &Young has been given the mandate.

The board also gave an in-principle approval for a 1:1 rights issue to its shareholders. A statement from the exchange said a meeting with institutional investors on this was slated to be held on January 13.

The board authorised the formation of a team for reviewing and renegotiating the existing contracts and agreements with its vendors and service providers.

The Exchange has applied to SEBI for introducing a new product in the F&O segment, and interest rate futures in the debt segment.

(This article was published on January 3, 2014)
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