MCX to appoint auditor for IT policy administration

This, after allegations against NSE for preferring some brokers over other market participants

Rajesh Bhayani  |  Mumbai 

The Multi Commodity Exchange (MCX) will appoint an independent auditor for its policy administration on information technology (IT). Its board of directors recently decided so, as a ‘good governance practice,’ said a source in the know. This follows some allegations by an unknown party against the National Stock Exchange for preferring some brokers over other market participants on speedy trade execution. While NSE is allowed to offer co-location facilities to brokers for faster access, similar facilities are not allowed to commodity exchanges. After NSE-like ...

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MCX to appoint auditor for IT policy administration

This, after allegations against NSE for preferring some brokers over other market participants

The Multi Commodity Exchange (MCX) will appoint an independent auditor for its policy administration on information technology (IT). Its board of directors recently decided so, as a 'good governance practise,' said a source in the know. This follows some allegations by an unknown party against the National Stock Exchange for preferring some brokers over other market participants on speedy trade execution. While NSE is allowed to offer co-location facilities to brokers for faster access, similar facilities are not allowed to commodity exchanges. After NSE-like allegations were made against MCX, the exchange's "now fiercely independent Board advised the management to volunteer to carry out a validation (audit) by a third party (any reputed technology service audit firm of repute) of the exchange's policy administration on the IT side, related to network connectivity", said the source quoted earlier.The bourse has told the Securities and Exchnage Board of India about its decision and is . The Multi Commodity Exchange (MCX) will appoint an independent auditor for its policy administration on information technology (IT). Its board of directors recently decided so, as a ‘good governance practice,’ said a source in the know. This follows some allegations by an unknown party against the National Stock Exchange for preferring some brokers over other market participants on speedy trade execution. While NSE is allowed to offer co-location facilities to brokers for faster access, similar facilities are not allowed to commodity exchanges. After NSE-like ... image
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