MCX-SX holds mock testing of stock trading platform

The country's newest stock exchange MCX-SX on Monday conducted mock testing session for its capital market segment to familiarise market players with its trading platform.

The mock testing session, held from 5 pm to 7 pm this evening, coincided with the auspicious 'Chhat' puja, one of the important festivals during Diwali period, MCX Stock Exchange (MCX-SX) said in a statement.

MCX-SX said that 135 trading members participated during the mock testing session.

Total turnover of Rs 225.53 crore was recorded during the session, where more than 100 stocks were available for mock testing, the exchange added.

Commenting on the development, MCX-SX Managing Director and CEO Joseph Massey said: "We have committed ourselves to bring about a meaningful change in India's financial markets and enhancing efficiencies to cater to the diverse needs of Indian investors and the industry. We will work continuously to realise the regulators and government's vision of financial inclusion and 360-degree development of our markets."

MCX-SX said it is in "complete state of readiness to go live and the exchange would commence operations in equity trading as soon as it reaches the critical mass of registering 350 members."

The Exchange had received a record number of over 700 applications for new membership during its inaugural membership drive that commenced on September 5, 2012.

The membership drive was launched after an approval from the capital markets regulator Sebi (Securities Exchange Board of India) to MCX-SX to offer equity, futures and options on equity, interest rate derivatives and wholesale debt market segments. The exchange is currently operating in currency derivatives segment only.