MCX
0 deep-dives · 13 policy notes
What has moved MCX
12 dated calls from the policy coverage · 7 positive · 0 negative · 5 watch
- Watch2026-10-16inferred
The circular covers the equity cash and equity derivatives segments; extension of the same architecture to commodities is a plausible but unannounced follow-on
Policy Pulse - Ministries & Regulators - 16 Oct 2026 - Watch2026-10-05
Clearer registration and ITC rules reduce counterparty friction in market infrastructure. No revenue-line change
Policy Pulse - Ministries & Regulators - 05 Oct 2026 - Watch2026-10-05
Exchanges and depositories carry the dissemination obligation. Immaterial to revenue, marginal to operating cost
Policy Pulse - Ministries & Regulators - 05 Oct 2026 - Positive2026-10-01inferred
Exchange revenue scales with product breadth and derivative volumes; BSE also replaced Wipro in the Nifty 50 effective September 30 and is the listed pure-play on Indian exchange volumes ⚠️ inferred
Policy Pulse - Ministries & Regulators - 01 Oct 2026 - Positive2026-09-30
FPI access to non-agricultural commodity derivatives is a direct liquidity and volume addition to India's commodity exchange
Policy Pulse - Ministries & Regulators - 30 Sep 2026 - Positive2026-09-16
Deeper closing-auction liquidity and higher execution confidence directly support cash and derivatives volumes on which exchange revenue is levied
Policy Pulse - Ministries / Regulators - 16 Sep 2026 - Positive2026-09-15
Closing-auction methodology reform plus record primary-market throughput support volumes
Policy Pulse - Ministries/Regulators - 15 Sep 2026 - Positive2026-09-11inferred
Distributors and exchanges monetise the same household flow
Policy Pulse - Ministries/Regulators - 11 Sep 2026 - Watch2026-09-11inferred
Settlement-efficiency upgrades lift turnover capacity across market infrastructure
Policy Pulse - Ministries/Regulators - 11 Sep 2026 - Positive2026-09-10
Same-day SEBI circular on commodity derivatives position limits directly widens the participation envelope on the exchange
Policy Pulse - Ministries/Regulators - 10 Sep 2026 - Positive2026-09-10
Higher usable position limits plus predictable penalties is the single cleanest volume lever for the commodity exchange
Policy Pulse - Ministries/Regulators - 10 Sep 2026 - Watch2026-09-01
No direct regulatory change; commodity volumes track crude volatility
Policy Pulse - Ministries/Regulators - 01 Sep 2026
Mentioned in Policy Pulse
Policy Pulse - Ministries & Regulators - 05 Oct 2026
The RBI's MPC opened a three-day meeting with roughly 60% of polled economists expecting the first repo hike since February 2023 - a 25bp move to 5.50% on October 7 that would pressure LICHSGFIN, DLF and MARUTI - while the 57th GST Council meets the same day with a pre-announced compliance, refunds and ITC package that is positive for SUNPHARMA, WELSPUNLIV and PAYTM. SEBI's Project Jagrook went live on every broker website today, and the Rs 80,000 crore Project-75(I) submarine programme with TKMS reached final approval stage as the clearest single positive for MAZDOCK.
Policy Pulse - Ministries & Regulators - 01 Oct 2026
The Finance Ministry cut the diesel and ATF export levy for a second fortnight, positive for IOC, BPCL and RELIANCE, as GST crossed Rs 2 lakh crore for a third month and the manufacturing PMI hit a seven-month high of 55.1. SEBI cleared corporate bond index futures for the NSE, the AMCA prototype RFP closed on 30 October with LT, BEL, BHARATFORG, BEML and DATAPATTNS named in the three shortlisted consortia while HAL did not qualify, and the rupee closed at 96.31 into a live RBI hike risk on October 7.
Policy Pulse - Ministries & Regulators - 30 Sep 2026
The CGA put the fiscal deficit at 41.9% of the FY27 target with five months gone, the RBI reported a record $200bn net forward dollar book as the concessional FCNR(B) window closed, and SEBI's Pandey rebuilt FPI onboarding rails while confirming no exchange interoperability and no changes outside the CAS paper. BSE replaced Wipro in the Nifty 50, the Andaman offshore mineral auction returns on October 1, and SEBI's 215th Board rewrote PMS regulations for MOTILALOFS and BSE.
Policy Pulse - Ministries / Regulators - 16 Sep 2026
NPCI's 0.4% MDR on merchant UPI above Rs 2,000 from October 15 opens a Rs 22,000 crore revenue pool by FY28 - PAYTM hit a 52-week high of Rs 1,855.50 while acquiring banks SBIN and AXISBANK led the gainers. SEBI gave arbitrage funds a 1% unhedged leeway to revive the closing auction, and BIS's 67% hallmarking fee hike sent KALYANKJIL and PCJEWELLER down 4-5%.
Policy Pulse - Ministries/Regulators - 11 Sep 2026
NSE priced its IPO at Rs 1,700-1,785 (~Rs 22,562 crore, opens Sep 17, listing circa Sep 24) with the issue down about 15% - a re-rating trigger for BSE and ANGELONE. Record August SIP flows of Rs 32,297 crore and Rs 87.08 trillion MF AUM lift HDFCAMC and NAM-INDIA, while Brent above USD 100 drives oil-marketing margins to Rs -5/litre petrol and Rs -23/litre diesel (IOC, BPCL, HINDPETRO negative).
Policy Pulse - Ministries/Regulators - 10 Sep 2026
SEBI keeps the Closing Auction Session but will rework derivatives settlement pricing, and revises commodity derivatives position limits (MCX). NSE IPO price band due Sep 11 with the issue trimmed to about Rs 23,000 crore and an ISIN freeze from Sep 11 (BSE, ANGELONE, MOTILALOFS). Man Industries won about Rs 600 crore of orders. Sensex +138 to 74,902.59; defence was the worst sector.
Policy Pulse - Ministries/Regulators - 01 Sep 2026
SEBI grants NSE IPO NOC (valuation up to Rs 5.26 lakh cr, September listing target); ETF framework deferred to Sep 7. Positive for BSE, ZERODHA, ANGELONE.
Policy Pulse — Ministries & Regulators — 06 Aug 2026
SEBI FY27 agenda: LODR review, SLB revamp, fast-track AIF, corporate-bond tokenisation pilot, Jagrook. Buy-back open-market route live (Aug 1, <15% cap). Defence stocks fire (HAL, BEL, GRSE); PSU banks lead; Sensex +374, Nifty flat on CAS/expiry. Q1 earnings drive moves (Trent +26%).
Policy Pulse — Ministries & Regulators — 04 Aug 2026
SEBI Closing Auction Session (CAS) live from Aug 3; windfall tax raised on fuel exports (negative for IOC, BPCL, HPCL, RELIANCE). BSE Q1 profit +62%, Ather +14%, Pidilite +27.7%.
Policy Pulse — Ministries & Regulators — 23 Jul 2026
SEBI proposes sweeping PMS overhaul — foreign securities, MF-only PMS, higher derivatives flexibility. Major positive for MOTILALOFS (largest listed PMS), HDFCAMC, NIPPONLIFE (MF-PMS channel), brokerages (ANGELONE, ZERODHA). SEBI also proposes ODR revamp (BSE beneficiary) and considers reducing upfront cash margins.
Policy Pulse — Ministries & Regulators — 22 Jul 2026
RBI collateral norms (100% BG) ongoing impact — negative for exchanges (BSE, MCX) & brokerages (Angel One, Zerodha, IIFL), positive for banks (HDFC Bank, ICICI). SEBI buyback rule amendment positive for cash-rich cos (TCS, Infy, ITC, Coal India). SEBI enforcement action on Pace Stock Broking.
Policy Pulse — Ministries — 17 Jul 2026
SEBI buyback amendment (Aug 1) positive for TCS, INFY, ITC, COALINDIA, ONGC. RBI CME norms negative for BSE, ANGELONE, ZERODHA, IIFL, MOTILALOFS. Markets rally 1.25% ahead of bank earnings.
Policy Pulse — Ministries — 10 Jul 2026
RBI's new collateral norms (100% margin on bank guarantees to brokers) squeeze trading volumes since Jul 1. SEBI revives open-market buyback route effective Aug 1. SEBI reforms ETF pricing framework. Defence Ministry confirms ₹2L Cr contract signing target for FY26. NBCC reports ₹1.2L Cr order book.