MCX-SX to be renamed Metropolitan Stock Exchange of India
23 Sep 2014
MCX Stock Exchange (MCX-SX) has received approval from Capital Market Regulator Sebi to change its name from Multi Commodity Exchange to Metropolitan Stock Exchange of India Ltd.
It can now operate under its new name, abbreviated as mSXI.
The name change is a part of the turnaround strategy to give the exchange a new identity, disassociate itself from the promoters and shift to a high growth phase.
The Exchange will now apply to Registrar of Companies (RoC) for registration of the new name.
The Board of MCX-SX approved the proposal of rechristening the Exchange a few months ago and subsequently submitted an application to Sebi. The functioning and the trading operations will remain seamless as the Exchange would migrate to the brand identity over the next few months upon RoC approval.
The Exchange has recently shifted office to new office premises in Mumbai and also moved its data centre to Tata Communications.
Saurabh Sarkar, MD and CEO, MCX-SX said, ''This is a crucial driver of our rebranding initiatives. This will sharpen our focus on raising the brand visibility and member engagement programs linked to the exchange's activities. ''