MCX-SX (India’s New Stock Exchange) will become the third stock exchange after BSE & NSE that is going to commence live trading in the capital market segment with effect from February 11, 2013.
MCX Stock Exchange Limited (MCX-SX), India’s new stock exchange, commenced operations in the Currency Derivatives (CD) segment on October 7, 2008 under the regulatory framework of Securities & Exchange Board of India (SEBI) and Reserve Bank of India (RBI). The Exchange is recognised by SEBI under Section 4 of Securities Contracts (Regulation) Act, 1956.
MCX-SX has witnessed a steady and significant growth in currency futures’ average daily turnover and open interest since its inception. Now completing the spectrum of currency risk management products, the Exchange introduced its first differentiated product in Currency Options with a smaller tick size of 10 bps in August 2012. The average daily turnover of Currency futures and options at the end of December 2012 stood at Rs 12,108.80 crore.
The currency derivatives segment at MCX-SX is supported by a strong membership base and witnesses nation-wide participation. At the end of December 2012, MCX-SX had 780 members and saw participation from 757 towns and cities across India.
MCX-SX received permissions to deal in Interest Rate Derivatives, Equity, Futures & Options on Equity and Wholesale Debt Segment, vide SEBI’s letter dated July 10, 2012.