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MCX-SX: India gets a new stock exchange

Finance Minister P Chidambaram today inaugurated the country's new stock exchange - MCX-Stock Exchange (MCX-SX).
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Mumbai:

Finance Minister P Chidambaram today inaugurated the country's new stock exchange - MCX-Stock Exchange (MCX-SX) at an event in Mumbai.

The new exchange would commence live trading in equities from Monday.

MCX-SX is providing trading platform for currency derivatives segment for now, and would become a full-fledged stock exchange after the launch of other segments like equity, equity derivatives, bonds and interest rate derivatives.

Speaking at the occasion, Ashok Jha, Chairman, MCX-SX, said: "We will look to penetrate more into Tier II and Tier III cities," adding that "a solid corporate bond market is required for financing infrastructure sector requirements".

Earlier, in a statement, MCX-SX said it will launch equities trading on Monday in 1,116 listed companies, even as the bourse operator looks to compete aggressively against the country's two established players - Bombay Stock Exchange and National Stock Exchange.

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