GOVT. NOTIFIED MCX AS RECOGNIZED EQUITY BOURSE

The government has notified MCX Stock Exchange, a part of Jignesh Shah-led group that also owns country's largest commodity bourse MCX, as a “recognized stock exchange” where trading would not be deemed as speculative transactions. The group, Financial Technologies, had set up MCX Stock Exchange (MCX- SX) in October last year with the launch of trading in currency futures. Besides, MCX-SX also initiated trading in stock future and options contracts last year. It is still awaiting necessary approvals from equity segment and the commencement is likely to take time.