MCX-SX gets Sebi nod for launching new contracts

In a significant boost, MCX-Stock Exchange today received approval from capital market watchdog Sebi to launch fresh contracts.
While renewing its license in September last year, Sebi had said that the exchange can launch new products from January onwards only if it complied certain conditions, including having a minimum net worth of Rs 100 crore.
In a statement today, the bourse said Sebi has accorded its approval to launch fresh contracts.
"This has paved the way for the Exchange to launch all contracts in Currency Futures, Currency Options, Interest Rate Futures, Equity and Index Derivatives.
"The said approval will allow members to take positions in all new contracts," MCX-SX said in a statement.

MCX-SX Managing Director and Chief Executive Officer Saurabh Sarkar said the clearance is a positive development and removes "last of the clouds".

"We thank all those who have helped us sail through severe turbulence. From here on, our focus will be to provide a world class experience to our members and their clients who trade or hedge any asset class on our stock exchange," he added.
On September 15, 2014, MCX-SX received a one-year conditional renewal to function as a bourse from Sebi.
Among the conditions, the exchange was not allowed to introduce any new contract till it meets minimum net worth requirement of Rs 100 crore, for which it was given three-months time.