Taking the final step to go live as a stock exchange, the MCX Stock Exchange (MCX-SX) has obtained the 'commencement certificate' from capital market regulator Securities & Exchange Board of India (SEBI).
Joseph Massey, Managing Director and chief executive of the new stock exchange, thanked the market regulator for issuing the commencement certificate.
Financial Technologies-promoted bourse MCX Stock Exchange (MCX-SX) has claimed that it has received more than 700 applications for memberships across segments.
Notionally, the more the number of members a stock exchange has the higher the number of potential investors to which it can reach out.
The more than a century old Bombay Stock Exchange (BSE) has nearly 1,083 members, while the National Stock Exchange (NSE) has 1,406 members.
India's capital market regulator, Securities and Exchange Board of India (SEBI) and banking regulator Reserve Bank of India (RBI) has give their approval to the Multi Commodity Exchange Ltd to launch currency options on its platform.
The company received the approval from Sebi-RBI after fours since it launched currency derivatives trading platform. The company had a turnover of about Rs 13,500 crore in the currency derivatives segment.
The MCX-SX will be made operational in the coming few months, according to Managing Director and Chief Executive Officer (CEO), Mr Joseph Massey.
The remarks from Mr. Massey comes after the india's capital market regulator, the Securities Exchange Board of India (SEBI) gave its approval to MCX-SX to deal in equity and equity futures & options, interest rate futures and wholesale debt segments on Tuesday.