MCX Stock Exchange (MCX-SX) will inaugurate its equity and equity derivatives segments on February 9 and will commence live trading from February 11. Currently, the exchange offers trading facility only in currency derivatives. According to a release issued by the exchange, finance minister P Chidambaram, along with Securities and Exchange Board of India (Sebi) chairman UK Sinha and Arvind Mayaram, secretary-department of economic affairs, will inaugurate the new segments. The exchange has managed to get 270 broker-members on board and expects a total of 350 members soon. It had submitted 496 member applications to sebi. Last month, Sebi issued the ‘commencement certificate’ to MCX-SX for trading in new segments, such as equity, futures and options on equity, interest rate derivatives and wholesale debt market to the. The ministry of corporate affairs also granted the status of a ‘recognized stock exchange’ to MCX-SX last month.
GDR manipulation case: Sebi allows KII to sell secs
Sebi has allowed KII, accused of manipulation in issuance of financial instruments overseas, to sell securities held in its demat account. KII is a sub-account of foreign institutional investor Credo Capital Plc. In September 2011, Sebi had restrained KII from dealing with securities in the domestic market in the wake of its alleged involvement in manipulating global depository receipts (GDRs) — a financial instrument used to raise capital overseas. Sebi said that it was modifying "to the limited extent", the interim order, issued in 2011, that had barred KII from
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