Multi Commodity Exchange of India (MCX) promoted MCX Stock Exchange (MCX-SX), the new stock exchange, has launched its dedicated debt market segment. The Equity and Equity derivatives segment turnover of MCX-SX has crossed Rs 1,000 crore and turnover of derivatives on its flagship index ‘SX40’ has crossed Rs 500 crore mark.
In line with SEBI guidelines, MCX Stock Exchange will offer Retail and Institutional Market for the Debt segment, including Request for Quote (RFQ) and Negotiated Platform. The Retail Market will offer lot sizes of 1 bond (tick size 0.01), Rs 1 crore (tick size 0.0001) and Rs 5 crore (tick size 0.0001). The market timings would be from 9 am to 5 pm. Trades done in retail market will be settled on a DVP III (net Basis) on T+2 day and there would be a settlement guarantee.
MCX-SX is the first and only exchange in India to have adopted the Industry Classification Benchmark (ICB), the global company classification standard of the FTSE Group, and also collaborated with Indian Statistical Institute (ISI) - India’s premier statistical research institute - and FTKMC for creating SX40 and other index product offerings that would be launched in the future.
