Multi Commodity Alternate (MCX) on Friday mentioned that it has come to its discover that sure unscrupulous parts beneath the title ‘GOLD-MASTER’ are operating an internet site known as www.mcxmastergold.com, providing varied funding schemes with assured returns.
The Alternate has issued warning in opposition to such funding offers and schemes that fraudulently invoke MCX’s title or declare to be affiliated with it. Due to this fact, the commodity trade clarified that, “MCX doesn’t have any type of affiliation with the DBS Financial institution in Singapore, relating to any wealth administration actions, nor does the Alternate have any relationship, by any means, with ‘Gold Masters’ and are misusing the Multi Commodity Alternate of India (MCX)’s title and trademark.”
“Gold-Masters” is neither registered as Member of the Alternate nor ‘Approved Individual’ of any registered member of the Alternate. Traders are cautioned and suggested to not subscribe to any scheme/ product by any entities providing indicative/ assured/ assured returns, that are prohibited by regulation,” it mentioned within the launch. The small print of its registered members and licensed individuals of the registered members can be found on its web site, www.mcxindia.com within the ‘Membership’ part, MCX added.
The Multi Commodity Alternate of India Restricted (MCX), India’s first listed trade, is a state-of-the-art, commodity derivatives trade that facilitates on-line commodity futures and choices transactions.
The Alternate, which began operations in November 2003, operates beneath the regulatory framework of Securities and Alternate Board of India (SEBI). name throughout diverse segments together with bullion, industrial metals, vitality, agricultural commodities and indices. It’s India’s main commodity derivatives trade with a market share of 93.6% when it comes to worth of commodity futures contracts traded in FY22.
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