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Summary MCX Stock Exchange aims to formally start stocks trading around the Diwali festival in mid-November
Chief executive Joseph Massey said this on Monday, in its quest to become the countrys third major equities market.The MCX Stock Exchange has been quickly taking the necessary steps to commence stock trading since the July approval by market regulator Securities and Exchange Board of India to trade in equities, equity futures, interest rate futures and wholesale debt products.Massey made the comments during a news conference meant to mark the start of MCX-SXs drive to recruit broker members. Diwali, or the festival of lights, is in mid-November and considered an auspicious time by many Indians.By starting stock trading, MCX-SX, controlled by the Multi-Commodity Exchange of India, Indias biggest commodity bourse, hopes to challenge the more entrenched Bombay Stock Exchange and the National Stock Exchange.
