Does MSEI have any subsidiary companies?

chethan

User: Subsidiary_Details
Subject: Does MSEI have any subsidiary companies?
Read somewhere that MSEI has subsidiaries. Can anyone provide details about these companies and what they do?

chethan

Reply by: Corporate_Structure_Analyst
MSEI has wholly-owned subsidiary named MSE Fintech Limited with face value of ₹10 per share. MSEI holds 50,000 equity shares in this subsidiary. Also clearing and settlement activities are handled by Metropolitan Clearing Corporation of India Limited (MCCIL). There is also MCX-SX KYC Registration Agency Limited (MRAL) which manages KYC process for exchange members.

chethan

Reply by: Business_Model_Student
So basically MSEI main company runs exchange operations, MCCIL does clearing settlement which is separate for risk management, and MRAL handles KYC compliance. This structure is similar to NSE which also has NSCCL for clearing. Standard practice for exchanges to have separate clearing corporation.