MCX, FTIL shares soar as equity bourse tests trading platform
Mumbai: Shares of commodity bourse MCX and promoter firm Financial Technologies India Ltd on Tuesday surged in the stock market after the group's equity exchange entity MCX-SX conducted mock-testing of its trading platform.
MCX shares rose 4.2 percent to Rs 1,545.40 at the BSE in the early morning trade, while FTIL (Financial Technologies India Ltd) was also trading 3.6 percent up at Rs 1,155.
The two stocks were top gainers on the BSE at 1005 hours in a moderately strong market, where benchmark Sensex was trading 81 points up at 18,420.51 points.
MCX is the country's biggest commodity exchange, while another exchange promoted by Financial Technologies group, MCX Stock Exchange (MCX-SX), is gearing up to commence trading in equity, equity derivatives, interest rate derivatives and wholesale debt market segments soon.
MCX-SX has got market regulator Sebi's approval for these segments, but currently it is only present in currency derivatives trading.
Last evening, MCX-SX conducted mock testing session for its capital market segment to familiarise market players with its trading platform.
MCX-SX said that 135 trading members participated during the mock testing session. Total turnover of Rs 225.53 crore was recorded during the session, where more than 100 stocks were available for mock testing.
The Exchange had received a record number of over 700 applications for new membership during its inaugural membership drive that commenced on September 5, 2012.
The membership drive was launched after an approval from the capital markets regulator Sebi (Securities Exchange Board of India) to MCX-SX to offer equity, futures and options on equity, interest rate derivatives and segments. The exchange is currently operating in currency derivatives segment only.