The latest entity to set up a full-fledged stock exchange; MCX-SX asserted that it expects to begin trading with about 1,000-1,200 stocks when it starts operations around Diwali.
Jignesh Shah, MCX-SX vice-chairman highlighted the future prospects of the company stating that, “We will list liquid stocks of BSE and NSE under permitted category initially,”
“Though the research team is still working on this, the number of scrips could be 1,000-1,200 out of some total 5,500 scrips listed in other bourses,” MCX-SX Managing Director & CEO Joseph Massey said.
The exchange would begin negotiating with companies about six months later for proper listing on its bourse, official said.
MCX-SX will commence trading in cash market and derivate segments (futures and options). The debt market trading would be introduced later.
Focusing on reducing the market transaction fees and the trading volume at which the exchange would break-even, Massey said much depended on exchange earnings but indicated the bourse was likely to become profitable from the start.
MCX-SX had offered up to 50 per cent reduction in transaction fees and “cost optimal” membership fee structure.
Shah said lower transaction charges will be of direct benefit to investors. Moreover, the market reports would be published in the regional languages by the exchange in order to help people not well acquainted with English.
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