MCX-SX to start equities trading

The MCX Stock Exchange (MCX-SX) is likely to start trading in equities in the next two-to-three months, a top company official said.

The Exchange is likely to get approval for the same from the market regulator soon, the official said.

"We are likely to get an approval soon. Next 2-3 months time looks realistic. As soon as we get the approval, we will start trading in equities," Joseph Massey, MD & CEO, MCX-SX said.

MCX-SX would also launch an exchange to trade currency options as soon as the final guidelines are released, Massey said.

Meanwhile, a scheme of reduction of capital under Companies Act has been approved by the MCS SX Board, shareholders and by the Mumbai High Court, the company said in a statement.

In terms of the said scheme, the excess shareholding beyond MIMPS Regulations held by Financial Technologies, MCX and ILFS has been cancelled by reduction of capital and warrants have been issued in lieu of the reduced shareholding in terms of the scheme, the statement said.