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Over 700 members for MCX stock exchange

MCX stock exchange (MCX SX), the latest entrant in the capital market space, on Monday said it has signed up more than 700 members prior to the launch of its trading platform.

business Updated: Oct 22, 2012 21:48 IST
HT Correspondent

MCX stock exchange (MCX SX), the latest entrant in the capital market space, on Monday said it has signed up more than 700 members prior to the launch of its trading platform.

The exchange said subscribers include foreign institutional investors (FIIs), global brokerage houses, financial institutions’ promoted securities firms, corporates, banks promoted securities firms, retail and institutional brokers amongst others.

Currently, the Bombay Stock Exchange (BSE) has around 1,000 members while the National Stock Exchange (NSE) has 1,500 members.

“MCX SX has already commenced the process of getting members registered with SEBI, which involves completing all documentation of members, scrutiny by the exchange and forwarding the application to SEBI for registration. After SEBI registers a member, it provides a registration certificate and a unique registration number. MCX-SX will also commence connectivity enablement of members with the Exchange and subsequently go live,” the company said in a statement.