The MCX Stock Exchange (MCX-SX) has received Sebi’s (the regulator’s) final approval i.e. the commencement certificate to go live in new product segments such as equity, wholesale debt and interest rate derivatives. After going live, MCX-SX would compete with other full-fledged nationwide stock exchanges like NSE and BSE.
Out of the 700 applications received during its membership drive, a total of 434 applications have been forwarded to Sebi for registration and the balance members are in the process of completing documentation with the exchange
The ‘commencement certificate’ was given by Sebi on December 19 after completion of the documentation process and site inspection.
MCX-SX, the third equity exchange in the country, is likely to begin in January, exchange sources said. MCX-SX is currently providing trading platform for only currency derivatives and would become a full-fledged stock exchange after launch of other segments like equity, equity derivatives, bonds and interest rate derivatives.