MCX rallies 4% on launch of debt-trading platform

Multi Commodity Exchange Ltd (MCX) surged nearly 4 per cent in morning trade on Monday, after the country's newest stock exchange, MCX-SX, will commence live trading on its dedicated debt- trading platform from today.   At 09:45 a.m.; MCX was trading 3.1 per cent higher at Rs 908. It hit a high of Rs 913.75 and a low of Rs 886 in trade today.  The debt segment was launched by MCX-SX on Friday when its equity segment daily turnover crossed Rs 1,000 crore milestone, while turnover of its flagship stock index 'SX40' crossed Rs 500 crore mark.

 MCX-SX's debt segment will go live on Monday, would facilitate trading and settlement in all debt securities on a single platform, in line with the mechanism in place globally in the fixed income markets. "The exchange received permission from Sebi to deal in equity and equity futures & options, interest rate futures and wholesale debt segments in July 2012," PTI said in a report.  "Consequently, it conducted a membership drive in September-October 2012 and finalised the necessary infrastructure, systems and procedures to begin trading," added the report.

Source : Economic Times