Anil Ambani-run Reliance Money has acquired 15 pc stocks in Hong Kong Mercantile Exchange (HKMEx). Reliance Money is the retail branch of Reliance Capital. It would be the first ever Indian company to acquire a stake in an international exchange. HKMEx is likely to start services in the first quarter of 2009.

Reliance money would have board membership and becomes the second-largest shareholder in the commodity exchange. The company is also acquaring10 per cent stake in domestic National Multi-Commodity Exchange of India. It has already got the approval from the FMC and Ministry of Consumer Affairs for the proposed acquisition.

The director and CEO of Reliance Money, Sudip Bandyopadhyay said that company would provide a platform for commodity commerce in India, China and the rest of Asia. The deal would also satisfy capital needs of firm for commodity trade.

The shares of reliance witnessed a downfall of 0.28% at the Bombay Stock Exchange and closed at Rs 807. Total 2,567,553 shares of Reliance were traded on Tuesday.