MCX-SX Equity and Equity Derivative segment to be inaugurated on Feb 9, 2013 by
Hon’ble Union Finance Minister Shri P. Chidambaram
· Capital market regulator SEBI gave “commencement certificate” for trading in new segments such as Equity, Futures and Options on Equity, Interest Rate Derivatives and Wholesale Debt Market to the exchange last month.
· Ministry of Corporate Affairs (MCA), Government of India granted the status of a “recognized stock exchange” to MCX-SX last month.
· 270 membership applications already registered by SEBI out of the 496 applications submitted by the exchange. Exchange expects to cross the 350 count shortly.
Mumbai, January 28, 2013: The Equity and Equity derivative segment of MCX Stock Exchange (MCX-SX) will be inaugurated on February 9, 2013 by Shri P. Chidambaram, Hon’ble Union Finance Minister. Shri. U K Sinha, Chairman, Securities and Exchange Board of India (SEBI) and Dr. Arvind Mayaram, Secretary- Dept of Economic Affairs will also be present at the function to be held in Mumbai. Live trading in this segment will commence from February 11, 2013.
Commenting on the development, Mr. Jignesh Shah, Vice Chairman of MCX-SX, said, “Inauguration of MCX-SX equity segment will be a significant milestone not only for MCX-SX but the entire nation. Our exchange adds a new dimension to the exchange evolution by embedding growth and inclusion that are so critical for a country like India.”
Mr. Joseph Massey, MD & CEO, MCX-SX added “We will continue with our efforts to ensure equitable and inclusive growth of Indian Capital Market. In line with the regulator’s vision, our focus will be to increase the depth of markets, introduce new segments and strengthen participation of investors from across the country.”
MCX-SX was granted the status of a “recognized stock exchange” by the Ministry of Corporate Affairs (MCA), Government of India on December 21, 2012. It received “commencement certificate” from market regulator SEBI for trading in new segments such as Equity, Futures and Options on Equity, Interest Rate Derivatives and Wholesale Debt Market on December 19, 2012.
Earlier, MCX-SX received 700 applications for new membership, a world record for an exchange before going live during. A mock testing session for its Capital Market segment was held on the auspicious occasion of ‘Chhatt’ festival on November 19, 2012 to familiarise participants with this new trading platform of MCX-SX.