Financial Tech, MCX shares score modest gains

Shares of Financial Technologies and Multi Commodity Exchange scored modest gains in early trade on Friday as the Finance Minister is scheduled to launch the equity trading in MCX-SX on Saturday.

The exchange will go live from Monday and launch trading in equity and equity derivatives competing with the NSE and the BSE.

MCX-SX is controlled by the Multi Commodity Exchange of India while Financial Technologies has 26 per cent stake in MCX.

The stock of Financial Technologies jumped 1.19 per cent (Rs 12.8) to Rs 1,087.9 while MCX scored even bigger gains of 2.7 per cent at Rs 1,376.3 5. MCX came out with a public issue last February with an issue price of Rs 1,032.

MCX-SX was granted the status of a “recognised stock exchange” by the Ministry of Corporate Affairs (MCA), Government of India, on December 21, 2012.

The exchange received “commencement certificate” from market regulator SEBI for trading in new segments such as equity, futures and options on equity, interest rate derivatives and wholesale debt market on December 19, 2012.