MCX STOCK EXCHANGE SAYS TO GO LIVE ON ANY DATE AFTER NOV. 18
(The following and attched press release from Multi Commodity Exchange of India was received by e-mail. It was not confirmed by the sender.)
MCX-SX Board decides on commencement of equity trading once 350 members are connected to the system
Inspection of the Exchange by the Securities and Exchange Board of India (SEBI) has been completed
Exchange is in full readiness to 'go live'. To inaugurate the technology infrastructure on 'LabhPancham', which is one of the most auspicious days in the Diwali period
Connectivity testing of members will be done on the auspicious occasion of 'Chhat'
Board has decided that it is very important to have the critical mass of members on first day of going live. The Exchange can go live on any date after November 18 as soon as the critical mass of 350 members is achieved
Mumbai, November 2, 2012: The Board of Directors of MCX Stock Exchange (MCX-SX) has decided that live trading for equity, equity F&O and new segments will commence once the a critical mass of around 350 members are connected with the Exchange.
Inspection of the Exchange by the Securities and Exchange Board of India (SEBI) has been completed and the Exchange is now in full state of readiness to support trading in additional segments.
Inauguration of the technology infrastructure will be held on November 18, 2012 on the auspicious day of 'LabhPancham', which is celebrated on the fifth day after Diwali. On the auspicious occasion of 'Chhat' festival on November 19, 2012, connectivity testing of members will be undertaken by the Exchange.
Mr. Joseph Massey, MD&CEO, MCX-SX said, "After the record breaking response of over 700 new membership applications, we are fully geared up to fulfill the expectations of market participants for an alternative new generation exchange with cutting edge technology. We are in complete state of readiness and shall go live any time after 18th November'2012, as soon as we reach the critical mass of 350 members."
MCX-SX created a world record by receiving over 700 applications for new membership during the membership drive which commenced on September 5th 2012