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| Code of Conduct |
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| The Company has formulated and implemented a comprehensive code of conduct for the board of directors and senior management of the Company. Accordingly, the declaration by the chief executive officer under Clause 49 of the Listing Agreement, regarding adherence to the code of conduct, has been obtained since the financial year 2007-08 onwards. As the Company is a commodity exchange, all employees are required to affirm the compliance of the code of ethics at the time of joining the Company. The Code applies to the Directors of Multi Commodity Exchange of India Limited, (the Company), Members of Senior Management of the Company (i.e. up to the designation of Vice- President). The Board of Directors of the Company has adopted this Code of Conduct as a commitment to the principles of corporate governance. Any amendments to this Code shall be first approved by the Board of Directors and promptly disclosed on this website. The Directors and Senior Management are required to: |
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Attend Meetings |
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- Regularly attend Board / Shareholders / Committee / Senior Management meetings and seek prior leave for absence from such meetings.
- Annually disclose their Directorships with other companies and any changes that happen.
- Disclose their shareholdings in the Company and any changes in the same as and when they happen as provided under the Companies Act, 1956.
- Abstain from voting and deliberation when the Board is to decide on an issue in which a Director has an interest.
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Exercise of Authority |
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| Exercise authority and power with due care and diligence whilst discharging the fiduciary responsibility of office in the best interest of the Company. |
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Conflict of interest |
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- Not allow personal interest to conflict with the interest of the company or to come in the way of discharging official duties.
- Not engage in a business commercial relationship or commercial activity with anyone who is a party to transaction(s) with the Company
- Not derive personal benefit or benefit to any of his or her relatives by making or influencing decisions relating to any transaction(s)
- Ensure that independent judgment in the best interest of the Company is exercised.
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Comply with policies |
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| Abide by policies and business principles of the Company. The Whole time Directors / Senior Management of the Company will in addition to this code also abide by the code of Ethics for Executives of the Exchange. |
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Ethical Conduct |
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| Comply with all applicable laws, rules and regulations. They are also expected to: |
- Conduct business operations in compliance with competition laws and principles of fair market competition.
- Maintain high ethical and professional standards in all dealings.
- Not conduct own selves in a manner as may bring disrepute or tarnish the reputation and image of the Company.
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Environment & Corporate Citizenship |
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- Preserve and protect the environment with due concern for ecology.
- Initiate and support community initiatives in the field of community health and family welfare, water management, vocational training, education and literacy, and encourage application of modern scientific and managerial techniques, and expertise. These are some activities that comprise our social responsibilities.
MCX is committed to be a good corporate citizen, not only by complying with all relevant laws and regulations, but also by actively assisting in the improvement of the quality of life of the people from the communities in which it operates, with the objective of making them self reliant.
These activities are reviewed periodically. MCX does not treat these activities as optional, but strives to incorporate them as an integral part of its business plan.
- Encourage volunteering amongst its employees and help them to work for the communities.
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Confidentiality |
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| Observe strict confidentiality of the information acquired in the course of discharging official duties and not use the same for any personal purpose or advantage. |
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Company property |
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- Use Company's property only for official purposes.
- Not misuse the Company assets. However, employ the Company assets to conduct business for which they are duly authorised. These include tangible assets such as equipment and machinery, systems, facilities, materials and resources as well as intangible assets such IPRs including proprietary information, relationships with Members of the Exchange, business partners, suppliers, etc.
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Gifts |
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- Not accept any personal gratification from suppliers/service providers/ business partners, etc. (Note: Personal gratification will not include normal entertainment and gifts of no significant value).
- Not accept of gifts, donations, hospitality and / or entertainment beyond the customary level from existing or potential suppliers, Exchange members or other third parties that have business dealings with the Company.
- Make adequate and full disclosure to the Managing Director & CEO of the Company by the interested employees, notwithstanding that such or other instances of conflict of interest exist.
- Make a full disclosure to the Managing Director and CEO of the Company of any interest, which the employee or the employee's immediate family, which includes parents, spouse and children, may have in a company, or firm, which is a supplier or an Exchange member.
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Fair dealings |
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| Deal fairly with Exchange members, suppliers, employees and other business associates. |
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Safety |
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| Respect safety and health of all employees and provide working conditions, which are safe and healthy. |
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Enhance skill sets |
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| Encourage employees to acquire skills, knowledge and training to expand / enhance their professional and specialized knowledge. |
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Equal Opportunity |
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| Provide equal opportunities to all employees and aspirants for employment in the Company solely on the basis of merit and irrespective of their gender, caste, religion, race or colour. |
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Non compete |
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| Not take up directly or indirectly any activities competing with the business of the Company. |
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Accuracy of financial records |
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- Ensure that all documents are accurate, timely and are properly authorised
- Maintain financial records in compliance with applicable laws and generally accepted accounting practices.
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Cordial Relations |
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- Make all efforts to establish cordial relationships with all stakeholders of the Company with whom they interface while carrying out their duties for the Company
- Try to make positive contributions to the communities in which they perform such duties.
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Concurrent Employment |
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| Not accept employment or an office of responsibility or profit (such as a consultant or a director) with any other company nor provide 'freelance' services to anyone, without the prior approval of the Managing Director & CEO. This is especially applicable for Whole time Directors and Senior Management. |
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Insider Trading |
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Not derive any benefit or assist others to derive any benefit from the access to and possession of information about the Company, which is not in the public domain and thus constitute insider information. This is especially applicable to Directors and Senior Management and his or her 'immediate family'.
Insider trading is prohibited
by both Law as well as by
the Company policy and invokes
severe penalties under the
Regulations issued in India
under the Securities and
Exchange Board of India
(SEBI) Act, 1992. "Price
sensitive information" is
information, which relates
directly or indirectly to
a Company and which if published
is likely to materially
affect the price of Securities
of a Company. It is important
to note that both positive
and negative information
could be price sensitive. |
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| Such price sensitive information might include but is not limited to the following: |
- Financial information such as profits, earnings and dividends;
- Announcement of new products, developments, etc;
- Assets revaluation;
- Investment decisions / plan(s);
- Restructuring plans;
- Raising finances;
- Major supplies and delivery agreements;
- Acquisition /disinvestments of business (es) or units, etc.
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Reporting Concerns |
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| Report any violation of this Code of Conduct to the Managing Director & CEO of the Company. |
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Periodic Discussions |
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| Make such declarations/ disclosures / undertakings as may be required to be made by the company periodically. |
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Top 
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For Latest commodity futures prices, SMS “MCX
<space> <Commodity
Name>“ to 58888 |
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