MCX-SX to launch equities trading on Feb 11

Finance Minister P Chidambaram will inaugurate equity trading platform of MCX-Stock Exchange (MCX-SX) on February 9.

The exchange would commence live trading in equities from February 11, MCX-SX said in a statement.

MCX-SX is providing trading platform for currency derivatives segment at present and would become a full-fledged stock exchange after the launch of other segments like equity, equity derivatives, bonds and interest rate derivatives.

MCX Stock Exchange (MCX-SX) received last month the 'commencement certificate' from market regulator Sebi to go live with its trading operations as a full-fledged bourse.

The 'commencement certificate' is the final go-ahead from the Securities and Exchange Board of India (Sebi) for MCX-SX to go live in new product segments such as equity, wholesale debt (bonds) and interest rate derivatives.

Sebi Chairman U K Sinha, Department of Economic Affairs Secretary Arvind Mayaram would also attend the inauguration function, the statement said.

MCX-SX would compete with other full-fledged nationwide stock exchanges like BSE and National Stock Exchange.

Commenting on the development, MCX-SX Vice Chairman Jignesh Shah said, "Inauguration of MCX-SX equity segment will be a significant milestone not only for MCX-SX but also for the entire nation. Our exchange adds a new dimension to the exchange evolution by embedding growth and inclusion that are so critical for a country like India."

On the same day, Chidambaram would also launch the much-awaited Rajiv Gandhi Equity Savings Scheme (RGESS), which is aimed at attracting first-time stock market investors.

The RGESS, which was announced in the Budget for 2012-13, seeks to provide tax benefits to first-time investors in stock markets.