Stocks

MCX-SX to launch equity trading from Feb 11

Our Bureau Mumbai | Updated on January 28, 2013 Published on January 28, 2013

The MCX-SX, the third stock exchange with national presence, would commence its live trading in cash equities and equities derivatives from February 11, the bourse said in a statement on Monday.

According to the MCX-SX, the exchange would be inaugurated by the Union Finance Minister P. Chidambaram on February 9.

The news of inauguration of the MCX-SX’s equity and debt, cash and F&O segments saw Financial Technologies and MCX stocks gain on Monday. Both these entities are shareholders in MCX-SX.

MCX gained 3.44 per cent to close at Rs 1,411.55 on the BSE. A total of 33,403 shares were traded of which 10,815 would be delivered. On the NSE, where the scrip is under the permitted category, more than 1.5 lakh shares were traded with a higher delivery percentage of 56.75.

Financial Technologies stock rose 0.65 per cent to close at Rs 1,159.2 on the BSE. A total of 13,465 shares would be delivered out of a total volume of 42,572. Similarly, on the NSE the scrip rose 1.48 per cent to close at Rs 1168. A total of 65641 shares would be delivered of the total volume of 1,98,315 shares.

Competitors

MCX-SX would compete with other full-fledged nationwide stock exchanges such as BSE and NSE. “Our focus will be to increase the depth of markets, introduce new segments and strengthen participation of investors from across the country,” said Joseph Massey, MD & CEO, the MCX-SX.

According to the exchange, 270 memberships have already been registered by the SEBI. However, the new exchange did not say how many stocks would be available for trading from the first day.

Earlier, the MCX-SX was granted the status of a recognised stock exchange by the Ministry of Corporate Affairs and Government of India on December 21 last year. It received “commencement certificate” from the SEBI to launch equity, futures and options trading on December 19 last. It already conducted a mock trading on November 19.

>[email protected]

Published on January 28, 2013
This article is closed for comments.
Please Email the Editor