Government notifies MCX-SX as `recognised stock exchange’
27 Dec 2012
MCX-SX has received the final go-ahead for listing of new shares and trading of shares in its platform with the government notifying it as a recognised stock exchange.
The ministry of corporate affairs (MCA) today issued a notification recognising MCX-SX as a ''stock exchange'', allowing the bourse to list a company on its platform through an IPO and offer book building, besides other public offers and trading on shares.
Market regulator Securities and Exchange Board of India (SEBI) had on 19 December, given MCX-SX the final go-ahead to function as a full-fledged stock exchange, enabling it to enter new product segments such as equity, wholesale debt (bonds) and interest rate derivatives.
MCX-SX, meanwhile, is planning to start trading in various asset classes, including equity and equity derivatives, on its platform.
Trading on MCX-SX, the third full-fledged stock exchange in the country, is likely to begin in January. MCX-SX is currently providing trading platform for only currency derivatives segment.
SEBI has already cleared the first lot of registration of 100 members and the balance applications are expected to be cleared shortly.
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