Expanding its product basket, the country's newest stock exchange MCX-SX on Friday launched a dedicated
debt market segment and announced commencement of live trading on this platform from Monday.
The dedicated debt segment was launched by MCX-SX on a day when its equity segment daily turnover crossed Rs 1,000 crore milestone, while turnover of its flagship stock index 'SX40' crossed Rs 500 crore mark.
Inaugurating the debt market segment of MCX-SX here this evening, Securities and Exchange Board of India (Sebi) Whole Time Member Rajeev Kumar Agarwal said he expects the exchange to make significant contributions in creating a vibrant debt market in the country, thus helping in raising of capital by the companies.
The exchange said that debt segment will go live from Monday, June 10, 2013.
The country's largest stock exchange NSE recently launched its dedicated debt platform, while BSE has also got an approval from Sebi for this segment.
MCX-SX said the new dedicated segment would facilitate trading and settlement in all debt securities on a single platform, in line with the mechanism in place globally in the fixed income markets.
"It would enable executing orders through an Anonymous Order Matching Trading Platform, where the order entry panel would facilitate to quote either in yield or in price terms.
It is an interface that would enable users to see pricing fluctuations and market actions," the exchange said.
MCX-SX said that it would offer retail and institutional market for the debt segment in line with Sebi guidelines and the market timings would be from 9 am to 5 pm.
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