How Shrimp Almost Bankrupted Him

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The multi-commodity exchange or the MCX has a virtual monopoly commanding over 90% market share. The number of active unique clients have soared from 3.5 million in 2020 to over 10.5 million today. Average trading volume of these commodity trading options contracts has soared from just 2,300 crore rupees to 52,600 crore rupees during this period too. So the stock price must be soaring, right? Well, not quite. And that's partly because of a software roadblock.MCX relies on a third party company called 63 Moons Technologies to run the show. It pays 63 Moons of fixed fee and even a percentage share of revenues for the tech. Nearly 30

In today’s episode for 1st July 2023, we explain why a commodity exchange monopoly has been having a rough time of late.

Before we begin today's story, here's a quick side note —

When you are new to investing and the stock market, you are bound to make a few errors. But some of those mistakes can be more damaging than others. Our co-founder Shrehith Karkera made one such mistake during his college days and he tells the tale in our latest YT video. Watch the video to hear the story of how 'shrimp' almost bankrupted Shrehith and the valuable lessons newbie investors must keep in mind. Please click the link - https://www.youtube.com/watch?v=gAsWYsrSTDE