Published On: Fri, Dec 21st, 2012

MCX-SX receives ‘commencement certificate’ from SEBI

Joseph Massey, MD& CEO of MCX-SX

Joseph Massey, MD& CEO of MCX-SX

MCX Stock Exchange (MCX-SX) has received the final go-ahead from the financial markets regulator Securities and Exchange Board of India (SEBI) for going live in new product segments such as equity, wholesale debt (bonds) and interest rate derivatives.

The “commencement certificate” from SEBI, dated December 19, 2012, came after completion of documentation process and SEBI’s site inspection.

Commenting on the development, Mr. Joseph Massey, MD& CEO of MCX-SX, said, “We are grateful to the SEBI for allowing us to make our new segments live and giving us the opportunity to work towards development of India’s Capital Markets.”

Out of 700 applications for new membership received by MCX-SX, a world record for an exchange before going live, 434 applications have been forwarded to SEBI for registration, after completion of documentation process and scrutiny of members. For the remaining applications, members are in the process of completing the documentation process with the Exchange. SEBI has already cleared the first lot of registration of 100 members and the balance applications are expected to be cleared shortly.

Meanwhile, MCX-SX has already initiated connectivity of members with the exchange and had earlier announced that the new segment would be made live as soon as the critical mass of registering and connectivity is achieved.

A mock testing session for its Capital Market segment was held on the auspicious occasion of ‘Chatt’ festival on November 19, 2012 to familiarise participants with this new trading platform of MCX-SX.

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