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This is an archive article published on May 12, 2011

MCX-SX equity trade: FTIL stock up

MCX-SX may get equity trade OK and this news caused Financial Technologies stock to jump 6.

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Financial Technologies India Ltd stock rose by nearly 6 per cent in morning trade on the BSE today amid media reports that MCX-SX is close to receiving approval for equities trading.

Following the reports,the stock of Financial Technologies,a promoter firm of MCX-SX,jumped by 5.87 per cent to touch an early high of Rs 873.40 on the Bombay Stock Exchange BSE.

On the National Stock Exchange,the stock surged by 5.45 per cent to touch an early peak of Rs 872.90.

As per media reports,MCX-SX is likely to get permission to trade in equities,with the Finance Ministry deciding to soon discuss the controversial recommendations of the Bimal Jalan committee on market infrastructure with various participants and intermediaries in the stock market and subsequently take a call on these suggestions.

The ministry8217;s position will then be communicated to Sebi,effectively forcing the regulator8217;s hand,it added.

Sebi had earlier denied the exchange permission as it had not met the required norms regarding ownership of exchanges.

MCX-SX is promoted by Multi-Commodity Exchange of India Ltd MCX and Financial Technologies India Ltd FTIL.

 

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