Metropolitan Stock Exchange of India Limited (MSE) is recognised by Securities and Exchange Board of India (SEBI) under Section 4 of Securities Contracts (Regulation) Act, 1956. The Exchange was notified a “recognised stock exchange” under Section 2(39) of the Companies Act, 1956 by Ministry of Corporate Affairs, Govt. of India, on December 21, 2012.
In line with global best practices and regulatory requirements, clearing and settlement of trades done on the Exchange are conducted through a separate clearing corporation − Metropolitan Clearing Corporation of India Ltd.
MSE offers an electronic, transparent and hi-tech platform for trading in Capital Market, Futures & Options, Currency Derivatives and Debt Market segments. The Exchange has also received in-principle approval from SEBI for operationalizing SME trading platform. MSE commenced operations in the Currency Derivatives (CD) Segment on October 7, 2008, under the regulatory framework of SEBI and Reserve Bank of India (RBI). MSE launched Capital Market Segment, Futures and Options Segment and flagship index ‘SX40’ on February 9, 2013 and commenced trading from February 11, 2013.
Trading in the ‘SX40’ index derivatives began from May 15, 2013. ‘SX40’, is a free-float based index consisting of 40 large-cap, liquid stocks representing diverse sectors of the economy. Its base value is 10,000 and base date is March 31, 2010. The index is designed to be a performance benchmark and facilitate creation of efficient investment and risk management instruments.
The Debt Market Segment of MSE, was launched on June 7, 2013, and trading commenced from June 10, 2013. The Exchange started live trading in cash-settled Interest Rate Futures (IRF), on 10-year Government of India security, in its Currency Derivative Segment from January 20, 2014. The product provides a better option to hedge against volatile interest rates.
‘Information, Innovation, Education and Research’ are the four cornerstnes of the unique market development philosophy adopted by MSE and suprts its mission of Financial-literacy-for-Financial InclusionTM, as is envisaged by the Government of India.
As part of this mission, MSE conducts large-scale investor education and awareness programmes, averaging at least programme one per working day, across the length and breadth of the country.
The Exchange has collaborated with academic institutions of repute, media, trade bodies, international organisations and industry experts for organising literacy and awareness drives. MSE has come out with a ‘Manifesto of Change’, which is a roadmap of what the Exchange intends to achieve in terms of driving market development and inclusive growth over the next 10 years.
MSE believes in connecting with investor community at large and help them to become a ‘Prudent Investor’, and spread financial literacy amongst investors through Investor Awareness Programmes. The schedule for forthcoming Investor Awareness
MSE, with a view to cater to the needs of the investors and provide counseling, has set up Regional Investor Service Centers at Chennai, Delhi, Kolkata, Mumbai, Ahmedabad, Indore, Kanpur & Hyderabad. Investors approach these centers for assistance, support or redressal of their grievances against members of the Exchange., The complaints of investors received are taken up with the Trading Member and the Exchange tries to work out a favorable resolution. However, if the same does not satisfy the aggrieved parties, the complaint is placed before Investors’ Grievances Redressal Committee (IGRC) for resolution., The Exchange has formed separate IGRCs, for each Regional Investor Service Centre to deal with the cases coming within their respective geographical jurisdiction.
Market Update is an in-house publication released monthly and quarterly intervals. It sights facts about the financial markets, both global and domestic. It also provides your with ready reference to current regulatory, market development efforts initiated by regulatory bodies and market places affecting the financial markets and economic conditions at large. This is a continuous endeavor in our effort to keep market stakeholders and participants well informed and updated.
Members of the Exchange are allowed to develop their own trading front end In-House CTCL/IBT software using Application Programming Interface (API) provided by the Exchange or procure / develop CTCL/IBT software from Non-empanelled vendors.