MCX-SX goes live today with equity, derivative trading

February 11, 2013 08:18

MCX Stock Exchange (MCX-SX) will begin trading in equities and equity derivatives from Monday.

With its 40-stock index named SX40, MCX-SX is the third full-fledged equity bourse after BSE and NSE.

The bourse was formally launched by Finance Minister P Chidambaram on Saturday.

SX40 will be a free-float based index of large-cap and liquid stocks, representing diverse sectors. The base value will be 10,000 with a base date of March 31, 2010, MCX-SX Vice-chairman Jignesh Shah said at the launch.

The index is designed to measure the economic performance with better representation of various industries and sectors based on the ICB (industry classification benchmark), a global classification from the FTSE of the London bourse.

The index allows fast entry for companies with better free float, market cap and liquidity. SX40 includes companies that have a minimum free float of 10 percent and is within the top 100 liquid companies, MCX-SX Managing Director & Chief Executive Joseph Massey said.

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