Tuticorin: Tamilnad Mercantile Bank has become the clearing banker of Multi-Commodity Exchange (MCX) following an agreement.
A memorandum of understanding was signed to this effect by G. Narayanamoorthy, Managing Director and Chief Executive Officer of the bank, and Joseph Massey, Deputy Director, MCX, recently.
S. Selvan Rajadurai, Deputy General Manager (business development), S. Arumuga Pandian, Assistant General Manager (business development), both of TMBL, Anil K Choudary, Managing Director and Chief Executive Officer, National Bulk Holding Corporation Limited, and Nayan Mehta, Senior Vice-President (finance), MCX, were present.
The tie-up with MCX, an independent and de-mutual multi- commodity exchange dealing with products such as gold, oil, metals, fibre, pulses, energy and plantations, paved way for opening of accounts by brokers for settlement purposes.
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