Financial Technologies (India) and Multi Commodity Exchange of India Ltd (MCX), the promoters of MCX Stock Exchange (MCX-SX), have rallied more than 8% each after MCX-SX got the nod from market regulator, Securities and Exchange Board of India (Sebi), to start operations as a full-fledged stock exchange.
MCX is the country's largest commodity exchange, while its promoter Financial Technologies offers technology and other solutions for exchange businesses.
Sebi's permission is on condition that the promoters of MCX-SX bring down their shareholding in the exchange to 5% limit within 18 months, reports suggest.
MCX-SX would be now able to offer additional asset classes such as equity and equity F&O (Futures and Options), interest rate futures and wholesale debt segments, added the report.
MCX has rallied 11% to Rs 1,288, while Financial Technologies has surged 9% to Rs 824 in opening trades on the National Stock Exchange.
