Multi Commodity Exchange of India has announced the appointment of Ramesh Varakhedkar as Chief Business Officer and Key Management Personnel under the Securities Contracts (Regulations) (Stock Exchanges and Clearing Corporations) Regulations, 2018, effective 28 September 2026. According to the company's exchange filing, this strategic leadership addition brings significant experience to MCX's senior management team.
Varakhedkar brings more than 30 years of diversified experience across the financial and capital markets space to his new role at MCX. As reported in the company filing, he has completed the Accelerated General Management Programme from IIM Ahmedabad, the Executive Programme in Applied Finance from IIM Calcutta, and holds a Post Graduate Diploma in Marketing and Sales. His educational background also includes a Bachelor's degree in Science.
Prior to joining MCX, Varakhedkar served as Head - Commodities Business at ICICI Securities Ltd. According to the company filing, his professional career has included positions at Karvy Stock Broking Ltd, Metropolitan Stock Exchange Ltd, Citibank, and ICICI Bank. This diverse background spans multiple financial services sectors.
The appointment of Varakhedkar as Chief Business Officer represents MCX's continued focus on strengthening its senior management team and expanding commodity-market offerings. As reported in the company filing, MCX has recently introduced and expanded contracts across commodities, including natural gas and crude oil options. The exchange has also been seeing expectations of strong revenue growth, with a recent Macquarie report estimating that MCX's revenue could grow at a 19% compound annual growth rate through FY30, driven by rising investor participation and the introduction of new commodity products. However, MCX shares ended Monday at ₹3,266, down 1.77% from the previous close of ₹3,325, with the stock gaining around 48.87% so far in 2026.
