New stock exchange, MCX-SX has successfully commenced its live trading in cash equity and derivatives segment. On its first day, the value of shares traded on the MCX-SX was Rs 6.9 million ($128,900) compared to Rs 94.57 billion on the NSE. Though, trading volumes are expected to rise in line with the government's goal of bringing more retail investors into stocks, exchanges face a grueling battle for market share. After going live on these segments, MCX-SX is competing with other full-fledged nationwide stock exchanges like National Stock Exchange (NSE) and Bombay Stock Exchange (BSE).
MCX-SX, back in December 2012, got commencement certificate from Securities and Exchange Board of India (SEBI) to go ahead with its trading operations as a full-fledged bourse. The commencement certificate is the final go-ahead from SEBI for MCX-SX to go live in new product segments, such as equity, wholesale debt (bonds) and interest rate derivatives.
