Mumbai: Shares of commodity bourse Multi Commodity Exchange of India Ltd (MCX) and promoter firm Financial Technologies India Ltd (FTIL) on Tuesday surged in the stock market after the group’s equity exchange entity MCX Stock Exchange (MCX-SX) conducted mock-testing of its trading platform.
MCX shares rose 4.2% to Rs.1,545.40 on BSE in early morning trade, while FTIL was trading 3.6% higher at Rs.1,155. The two stocks were top gainers on BSE at 10:05am in a moderately strong market, where benchmark Sensex was trading 81 points up at 18,420.51.
MCX-SX has got Securities and Exchange Board of India’s (Sebi) approval for trading in equity, equity derivatives, interest rate derivatives and wholesale debt market segments, but is currently present in currency derivatives only.
Last evening, MCX-SX conducted mock testing session for its capital market segment to familiarize market players with its trading platform.
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 had received a record number of over 700 applications for new membership during its inaugural membership drive that commenced on 5 September.
The membership drive was launched after an approval from the capital markets regulator Sebi to MCX-SX to offer equity, futures and options on equity, interest rate derivatives and segments. The exchange is currently operating in currency derivatives segment only. PTI