"(The) earliest we can know whether MCX has made a mark in equities is five years from now," said Phani Sekhar, a fund manager at Angel Broking.
MCX-SX was formally launched by finance minister P Chidambaram on Saturday.
The base value for the index is 10,000 with a base year of March 2010, the exchange said.
The SX-40 will be a free-float-based index of 40 large-cap stocks. The stocks included in the exchange have a free loat of at least 10% and a positive net worth.
Of the 700 members the bourse has signed up, registration of 405 have already been cleared by the regulator.
(Reuters and PTI inputs)