SEBI allows convergence of stock, commodity exchanges from October 2018

According to Sebi Chairman Ajay Tyagi, the move will allow major players to list both equities and commodity-backed financial instruments on their platforms

The Securities and Exchange Board of India (Sebi) on Thursday gave its nod to the convergence of both equities and commodity-backed stocks on exchanges from October, 2018.

Representational Picture 

According to Sebi Chairman Ajay Tyagi, the move will allow major players like BSE, NSE and Multi-Commodity Exchange of India (MCX) to list both equities and commodity-backed financial instruments on their platforms.

Tyagi said the convergence will be effective from October, 2018 and will help in cross-listing and provide investors with access to various asset classes.

Catch up on all the latest Mumbai news, current affairs from Mumbai, local news, crime news and breaking headlines here

Download the new mid-day Android and iOS apps to get updates on all the latest and trending stories on the go

"Exciting news! Mid-day is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest news!" Click here!