The new entrant MCX stock exchange (MCX-SX), is intending to compete with country's two most popularly traded equity indices, the Sensex-30 and the Nifty-50, with its benchmark index SX-40, comprising of 40 top stocks selected based on liquidity and non-promoter market value among other factors. The stock will be traded on MCX-SX when the exchange inaugurates multiple asset trading on its platform on the occasion of Diwali.
MCX-SX would closely work India’s premier research organisation Indian Statistical Institute (ISI) for its indices, while it also has an international partnership with FTSE and its other Indian partner Financial Technologies Knowledge Management Company (FTKMC) for developing benchmark domestic and global indices.
Meanwhile, already setting the stage for competition, MCX-SX, is expected to go live with equity and debt market trading from Diwali, has drastically unveiled a lowered deposits and net worth requirements for its members compared to the country's leading bourses.
