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Shares of Financial Technologies India and MCX shot up today, after the Securities and Exchange Board of India granted permission to their entity MCX-SX to operate as a full-fledged stock exchange.
FTIL shares surged 9.49 per cent to touch a high of Rs 824.90 on the BSE. Similarly, shares of MCX soared 7.7 per cent to Rs 1,246.20.
FTIL and MCX are the promoters of MCX Stock Exchange (MCX-SX).
SEBI had late yesterday granted permission to MCX-SX to operate as a full-fledged stock exchange, ending a nearly four-year-long wait for the bourse to enter the business — a move that will bring in more competition in markets.
MCX-SX was first granted recognition by SEBI in September 2008, but it was allowed to conduct trading only in the currency derivatives segment.
With the approval, MCX-SX would be able to offer additional asset classes such as equity and equity F&O (Futures and Options), interest rate futures and wholesale debt segments.
At present, SEBI has granted permanent recognition to eight stock exchanges in the country, but only two of them — BSE and NSE — are operating as active national level bourses across the segments.
MCX is the country’s largest commodity exchange, while its promoter FTIL offers technology and other solutions for exchange businesses.
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