MCX, Financial Technologies shares soar as new exchange tests trading platform

Shares of commodity bourse MCX and promoter firm Financial Technologies India Ltd (FTIL) today surged after the group's equity exchange entity MCX-SX conducted mock-testing of its trading platform.

MCX shares rose 4.2 per cent to Rs 1,545.40 on the Bombay Stock Exchange (BSE) in early morning trade, while FTIL traded 3.6 per cent higher at Rs 1,155.

The two stocks were top gainers on the BSE at 10:05 a.m. in a moderately strong market. The 30-share Sensex traded 81 points up at 18,420.51 points.

MCX is the country's biggest commodity exchange. Another exchange promoted by Financial Technologies group - MCX Stock Exchange (MCX-SX) - is gearing up to commence trade in equity, equity derivatives, interest rate derivatives and wholesale debt market segments soon. It has got market regulator Securities and Exchange Board of India’s (SEBI) approval for these segments, but currently it is only present in currency derivatives trading.

Last evening, MCX-SX conducted mock testing session for its capital markets segment to familiarise market players with its trading platform.

MCX-SX said that 135 trading members participated during the mock testing session, which recorded a total turnover of Rs 225.53 crore by trading more than 100 stocks.

The exchange had received a record number of over 700 applications for new membership during its inaugural membership drive that commenced on September 5, 2012, launched after Sebi approval. It is currently operating in currency derivatives segment only.