MCX Stock Exchange (MCX-SX) has received the final go-ahead from regulator Securities and Exchange Board of India (SEBI) for going live in new product segments such as equity, wholesale debt (bonds) and interest rate derivatives.
Joseph Massey, MD& CEO of MCX-SX, said in a statement, that out of 700 applications for new membership received by MCX-SX, a world record for an exchange before going live, 434 applications had been forwarded to SEBI for registration, after completion of documentation process and scrutiny of members.
For the remaining applications, members were in the process of completing the documentation process with the Exchange. SEBI had already cleared the first lot of registration of 100 members and the balance applications were expected to be cleared shortly. Meanwhile, MCX-SX has initiated connectivity of members and announced that the new segment would be made live as soon as the critical mass of registering and connectivity is achieved. A mock testing session for its capital market segment was held on Wednesday.