FTIL jumps on reports of MCX-SX likely to trade in equities

PTI Mumbai | Updated on May 12, 2011

Shares of Financial Technologies India Ltd rose by nearly 6 per cent in the morning trade on the BSE today amid media reports that MCX-SX is close to receiving approval for equities trading.

Following the reports, the stock of Financial Technologies, a promoter firm of MCX-SX, jumped by 5.87 per cent to touch an early high of Rs 873.40 on the Bombay Stock Exchange. On the National Stock Exchange, the stock surged by 5.45 per cent to touch an early peak of Rs 872.90.

As per media reports, MCX-SX is likely to get permission to trade in equities, with the Finance Ministry deciding to soon discuss the controversial recommendations of the Bimal Jalan committee on market infrastructure with various participants and intermediaries in the stock market and subsequently take a call on these suggestions.

The Ministry’s position will then be communicated to SEBI, effectively forcing the regulator’s hand, it added.

SEBI had earlier denied permission to the exchange as it had not met the required norms regarding ownership of exchanges.

MCX-SX is promoted by Multi-Commodity Exchange of India Ltd (MCX) and Financial Technologies India Ltd (FTIL).

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Published on May 12, 2011
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