INDIA: Government of India grants `recognized stock exchange` status to MCX-SX

Thursday January 3 2013

The Ministry of Corporate Affairs (MCA), Govt of India has by its notification dated December 21, 2012, granted MCX Stock Exchange (MCX-SX) the status of a “recognized stock exchange”. This follows closely on the heels of MCX-SX receiving “commencement certificate” from Securities and Exchange Board of India (SEBI) on December 19, 2012 for going live in new product segments such as equity, wholesale debt (bonds) and interest rate derivatives.

This move will enable companies coming out with their initial public offerings to list their securities exclusively on MCX-SX and/or choose MCX-SX as their ‘designated stock exchange’. Moreover, public sector companies, who can list their securities only on a “recognised stock exchange”, can now opt for MCX-SX listing. Companies so listed on MCXSX will be entitled to all benefits available to ‘listed companies’ under the Companies Act, 1956.

Click on the above link for more details.