Stocks

FTIL, MCX stock spurts as MCX-SX gets nod for equity trading

| Updated on: Jul 11, 2012

Shares of Financial Technologies India and MCX shot up today, after the Securities and Exchange Board of India granted permission to their entity MCX-SX to operate as a full-fledged stock exchange.

FTIL shares surged 9.49 per cent to touch a high of Rs 824.90 on the BSE. Similarly, shares of MCX soared 7.7 per cent to Rs 1,246.20.

FTIL and MCX are the promoters of MCX Stock Exchange (MCX-SX).

SEBI had late yesterday granted permission to MCX-SX to operate as a full-fledged stock exchange, ending a nearly four-year-long wait for the bourse to enter the business — a move that will bring in more competition in markets.

MCX-SX was first granted recognition by SEBI in September 2008, but it was allowed to conduct trading only in the currency derivatives segment.

With the approval, MCX-SX would be able to offer additional asset classes such as equity and equity F&O (Futures and Options), interest rate futures and wholesale debt segments.

At present, SEBI has granted permanent recognition to eight stock exchanges in the country, but only two of them — BSE and NSE — are operating as active national level bourses across the segments.

MCX is the country’s largest commodity exchange, while its promoter FTIL offers technology and other solutions for exchange businesses.

Published on November 17, 2017

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