The Hindu Business Line : MCX-SX garners 50% market share

Mumbai, Dec. 9 MCX-SX, the currency futures exchange promoted by Financial Technologies and MCX, has garnered 50 per cent market share in two months of operations, according to a release from the exchange.

The exchange witnessed a growth of 187 per cent by clocking an average daily turnover of Rs 1,003 crore at the end of the second month on December 7, against the average daily turnover of Rs 349 crore in the first month. The average daily volume was 201,234 contracts at the end of the second month against 71,242 contracts traded in the first month. The number of approved members was up at 419 from 305. The exchange recorded the highest turnover of Rs 1,466 crore in December against Rs 942 crore in November. Bank participation, on an average, was up to 30 per cent against 25 per cent in the first month of operations.

Mr U. Venkataraman, CEO, MCX-SX, said: “The increase in the total number of participants on the MCX-SX platform mirrors the magnitude of confidence that the market has on the exchange.”

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