MCX-SX gets SEBI approval to launch fresh contracts

Securities and Exchange Board of India (SEBI) today has accorded its approval to MCX Stock Exchange Limited (MCX-SX) to launch fresh contracts. This has paved the way for the exchange to launch all contracts in currency futures, currency options, interest rate futures, equity and index derivatives. The said approval will allow members to take positions in all new contracts. "With this positive development, the last of the clouds have cleared from the exchange. We thank all those who have helped us sail through severe turbulence," Saurabh Sarkar, MD and CEO, MCX-SX said. "From here on, our focus will be to provide a world class experience to our members and their clients who trade or hedge any asset class on our stock exchange.”

In September last year, while renewing its contract, Sebi had disallowed the exchange from launching any fresh contracts owing to continuing issues with MCX-SX erstwhile parent Financial Technologies, with respect to the scam at NSEL, which FTIL also owned.