Sebi notice to MCX on shareholding norm
Market regulator SEBI has asked the new stock exchange MCX-SX to explain why it should be given permission to start trade in equities in view of issues relating to its shareholding, including by Financial Technologies and commodity exchange MCX.
While sources said that a notice was sent to MCX-SX, a SEBI spokesperson declined to comment.
Incidentally, MCX-SX had sought the intervention of Bombay High Court complaining that SEBI was delaying permission to it for offering equity trading among other segments.
The court in turn directed SEBI to take a decision on the issue by September 30. When contacted, the exchange spokesperson said that MCX-SX had complied with all necessary directives and informed SEBI accordingly.
“As directed by the High Court that after 4 weeks from the date of the order (August 10) and after the MCX-SX has responded, SEBI has the right to seek further clarifications and opportunity be given to MCX-SX for hearing…,” he said.
Written by admin on September 19th, 2010 with no comments.
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