The Securities and Exchange Board of India (SEBI) has asked MCX-SX to explain why it should be given permission to begin equities trading in view of issues relating to its shareholding pattern, including by Financial Technologies and commodity exchange MCX.
While sources said that a notice was sent to MCX-SX, a SEBI spokesperson declined to comment.
MCX-SX had sought the intervention of the Bombay High Court complaining that SEBI was delaying permission for equities trading among other segments. The court in turn directed SEBI to take a decision by September 30.
When contacted, the exchange spokesperson said that MCX-SX had complied with all necessary directives and informed SEBI accordingly.