The amazing story of Jignesh Shah and MCX

The meeting with Jignesh Shah, managing director, Multi Commodity Exchange of India, is scheduled for 4 p.m., and begins at five past. The man is not just prompt, he makes spending 90 minutes with a journalist seem like no effort at all. (He is extremely media friendly and projects an impeccable corporate image.)

This, despite him telling me later that he works a 15-hour day, and I suspect they are often longer. There's enough hyperactivity in the commodity markets to justify it.

Trading volumes in commodity futures surpassed capital market futures in August for the first time in the history of domestic derivatives, and average daily trading volumes have crossed the Rs 10,000 crore (Rs 100 billion) mark. MCX is in the thick of it.

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