Sebi eases norms for FTIL to divest stake

New Delhi:  Commodity bourse MCX said that the capital markets regulator Securities and Exchange Board of India (Sebi) has relaxed norms to allow FTIL to bring down its stake to 1.99 per cent in the commodity bourse. In a filing to the BSE, MCX said that it has received a communication from “The relaxation is granted only for “the limited purpose” to enable Financial Technologies (FTIL) to comply with the commodity markets regulator Forward Markets Commission order dated December 17, 2013, it said.  MCX had sought relaxation from this rule to enable FTIL comply with the FMC’s December 2013 order that declared FTIL as unfit to run any exchanges and asked it to reduce its stake to 2 per cent from 26 per cent.