MCX-SX cash turnover rises 4.25% in Aug despite NSEL crisis

As crisis continues to engulf National Spot Exchange Ltd, the stock trading turnover at MCX-SX, promoted by the same group, rose by 4.25 per cent to Rs 1,085 crore (Rs 10.85 billion).

The licence of MCX-SX is coming up for renewal before Sebi later this month.

As per latest data available with MCX-SX, the cash segment equity turnover increased to Rs 1,085.7 crore (Rs 10.85 billion).

However, the cash market turnover had fallen sharply in July to Rs 1,041.4 crore (Rs 10.41 billion), after crossing Rs 2,000-crore (Rs 20-billion) mark in May and had nearly touched Rs 3,000-crore (Rs 30-billion) figure in June.

MCX-SX began operations as a full-fledged stock exchange in February this year and will be up for a license renewal this month.

However, its equity derivative segment turnover declined by 29.3 per cent to Rs 23,105 crore (Rs 231.05 billion)

in August.

As many as 861,000 derivative contracts were traded on MCX-SX' platform in August.

The equity derivative segment had witnessed a growth of over 100 per cent to Rs 32,686 crore (Rs 326.86 billion) in July, 2013, as per market regulator Sebi.

Financial Technologies-promoted, NSEL, is presently facing a crisis of settling Rs 5,600-crore (Rs 56-billion) dues to 148 members/brokers, representing 13,000 investor clients, after its trade was suspended on July 31 by government orders.

Multi Commodity Exchange and Financial Technologies together hold 9.97 per cent shareholding in MCX-SX, as on quarter-ended June 30, 2013.

In July, Hyderabad accounted for the largest share in MCX-SX cash turnover at 34.4 per cent followed by Delhi at 22.8 per cent, as per market regulator Securities and Exchange Board of India’s data.