Third major stock exchange, MCX - SX, is all set to launch equity trading on its platform on February 9, 2013.
MCX - SX was keen to launch equity trading on its platform around Diwali last year, after its victory in a legal battle with the regulator, Securities and Exchange Board of India ( SEBI). The launch got postponed due to delay in membership registration.
In October 2012, the exchange claimed to have signed up 700 members across the country. SEBI officials said they have registered between 200 and 250 MCX - SX members till date.
Opening bell..!
Finance Minister Mr. P. Chidambaram will ring the opening bell at MCX - SX in Mumbai, government officials in New Delhi said. On the same day, Chidambaram will also attend a joint conference organised by all stock exchanges and depository participants to flag off the Rajiv Gandhi Equity Savings Scheme ( RGESS), announced by former finance minister Mr. Pranab Mukherjee in the 2012 - 13 Budget.
February 9, 2013 has been fixed as the date to launch both RGESS and MCX - SX equity segment, event organisers have been asked to block dates during February 8-15 to accommodate any last minute changes in the finance minister’s plan.
While Mr. P. Chidambaram has attended many events at the National Stock Exchange (NSE) &d the Bombay Stock Exchange (BSE), this will mark his maiden presence at MCX - SX.
MCX-SX will pitch its benchmark index SX 40 against NSE’s popular index S & P CNX Nifty and BSE’s Sensex. MCX - SX has said it would start trading with nearly 1,200 stocks that would be admitted for direct trading on its platform from NSE & BSE under the permitted-to-trade category rules.
BS
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