MCX-SX gets final approval from SEBI

The MCX Stock Exchange (MCX-SX) has been granted the commencement certificate - for going live in new product segments including equity, wholesale debt and interest rate derivatives.

The certificate dated 19 December was given after the documentation process had been completed as also inspection by SEBI according to a release from the MCX-SX.

Of the 700 applications for new membership received by MCX-SX, 434 applications had been forwarded to SEBI for registration, after completion of documentation process and scrutiny of members, while the remaining applications, members are in the process of completion of the documentation process, the release said.

SEBI had already cleared the first lot of registration of 100 members, while the balance applications were expected to be shortly cleared.

The exchange has meanwhile, initiated connectivity of members and announced that the new segment would go live as soon as the critical mass of registering and connectivity was achieved.

The exchange's capital market segment saw a mock testing session, which was held on Wednesday.