Stocks

MCX-SX may begin equity trading soon

| | Updated on: Jul 11, 2012
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The stock exchange of MCX will be functional in a couple of months, said Mr Joseph Massey, Managing Director and Chief Executive Officer of MCX-SX.

MCX-SX received permission from SEBI to start trading in new asset classes on Tuesday.

MCX-SX currently offers trading in currency derivatives.

Addressing the media on Wednesday, Mr Massey said the exchange launch was bound to take sometime.

“The infrastructure and technology is in place. What will take time is getting the members enrolled and registered,” he said.

The company’s board meeting has been scheduled and details of the exchange launch and products offerings will be announced soon, he added.

MCX-SX hopes to cater to the growing needs of investors for suitable investment avenues and to the corporate sector for raising risk and debt capital, he said. Mr Massey had his reservations on the inter-operability of clearing corporations.

“Derivatives would require a dedicated clearing corporation. The cash segment could work with an inter-operability model,” he said.

Mr Jignesh Shah, Vice-Chairman, MCX-SX and Chief Executive Officer of MCX said exchanges should offer a comprehensive product portfolio.

“It is important to have full-fledged security exchanges in India. Such exchanges should have all asset classes such as equity, currency, derivatives, debt market and bond market.

However, he felt there was scope for innovation in the equity derivatives segment.

>sneha.p@thehindu.co.in

Published on July 11, 2012

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