Cash segment, equity derivative turnover dips at MCX-SX
Quotes

Cash segment, equity derivative turnover dips at MCX-SX

Last Updated: Sunday, October 06, 2013, 12:32
 
 Comment 0
 
Cash segment, equity derivative turnover dips at MCX-SX
Mumbai: Equity derivative turnover at the country's newest bourse MCX-SX plunged 69 percent in September and its cash segment volume dropped 8.8 percent, amid deepening payment crisis at its group entity National Spot Exchange Ltd (NSEL).

As per latest data available with MCX-SX, its cash segment equity market turnover declined by 8.82 percent to nearly Rs 990 crore last month. Equity derivative turnover plummeted to Rs 7,133 crore in the same period.

MCX-SX began operations as a full-fledged stock exchange earlier this year and was set up by Jignesh Shah-led Financial Technologies, which has almost 100 percent stake in NSEL.

The cash market turnover at MCX-SX had shown a strong growth earlier this fiscal, from just Rs 33 crore in April 2013, to over Rs 2,000 crore in May and close to Rs 3,000 crore in June.

However, the cash market turnover began to dip in July, although it retained Rs 1,000-crore level till August.

Likewise, the bourse's equity derivative segment turnover fell more sharply by 69.13 percent in September to Rs 7,133 crore, from Rs 23,105 crore in August.

A total of 2.57 lakh derivative contracts were traded on its platform in September compared to 8.61 lakh during August.

Last month, market regulator SEBI had renewed MCX-SX's licence for one year but asked it to strengthen its governance structure so as to continue remaining a recognised bourse.

SEBI also asked MCX-SX Ltd to constitute a committee of two independent directors and three institutional investor nominees to oversee key business decisions, policy matters and appointment of top management.

NSEL is presently facing a crisis of settling Rs 5,500 crore dues to 148 members/brokers, representing 13,000 investor clients, after its trade was suspended on July 31 through government orders.

Multi Commodity Exchange (MCX) and Financial Technologies together hold 9.97 percent shareholding in MCX-SX, as on quarter-ended June 30, 2013.

In August, Hyderabad accounted for the largest share in MCX-SX cash turnover at 37.4 percent followed by Delhi at 20.9 percent, as per market regulator SEBI's data.

PTI


First Published: Sunday, October 06, 2013, 12:32


Comments


comments powered by Disqus
New York Auto Show: 2015 Subaru Outback
New York Auto Show: 2015 Subaru Outback
New York Auto Show: Dodge Hot Cars
New York Auto Show: Dodge Hot Cars
New York Auto Show 2014: Hot Cars
New York Auto Show 2014: Hot Cars
Top 10 Fastest-Emerging Cities
Top 10 Fastest-Emerging Cities
Top Businesswomen in India
Top Businesswomen in India

Web Wrap
Contact Us : Privacy Policy : Legal Disclaimer
Copyright © Zee Media Corporation Ltd. All rights reserved