Having received the approval from the Securities and Exchange Board of India (Sebi) to deal in equity, futures & options, interest rate futures and wholesale debt segments in July 2012 and the commencement certificate last month, MCX-SX is set to begin trading on February 11, 2013, with 270 membership applications already registered with the regulator.
Finance minister P Chidambaram will inaugurate the equity trading platform of the exchange on February 9. However, February 9 being a Saturday- a non-trading day -live-trading at the exchange will only begin on February 11.
While the exchange had submitted 496 membership applications with the market regulator, 270 applications have been registered by Sebi.
“Our exchange adds a new dimension to the exchange evolution by embedding growth and inclusion that are so critical for a country like India,” said Jignesh Shah, vice chairman, MCX-SX.
The exchange, however, will have to work to create space for itself in a competitive market dominated by the NSE. Joseph Massey, CEO of MCX-SX said that the exchange introduce new segments and will focus to increase depth of markets.