MCX Stock Exchange is an India-wide electronic platform for trading in currency futures under the regulatory control of Securities and Exchange Board of India (SEBI) and Reserve Bank of India (RBI). It is jointly promoted by Financial technologies  and MCX. It started operations on the 6th of OCtober 2008 .

Products

MCX-SX’s product is a currency futures contract. It started live operations on 7 October, 2008, by launching monthly contracts in the USD/INR currency pair. Each USD/INR contract on MCX-SX has a life of 12 months from the month in which it was launched. Specifications of the MCX-SX USDINR contract are as stipulated by RBI and Securities SEBI, and are as follows:

Symbol	USDINR
Instrument Type	FUTCUR
Unit of trading	1 (1 unit denotes 1000 USD)
Underlying	The exchange rate in Indian Rupees for a US Dollar
Tick size	Tick size Rs.0.25 paise or INR 0.0025
Trading hours	Monday to Friday 9.00 a.m. to 5.00p.m.
Contract trading cycle	12 month trading cycle.
Last trading day	Two working days prior to the last business day of the expiry month at 12 noon.
Final settlement day	Last working day (excluding Saturdays) of the expiry month. The last working day will be the same as that for Interbank Settlements in Mumbai.

Highlights

• MCX-SX initiated trading on Oct 7, 2008
• Total Turnover - Rs. 43,571.98 crore*
• Total number of contracts traded - 8,876,100*
• Recorded highest turnover - Rs. 1593.04 crore on Jan 22, 2009
• Highest number of contracts traded - 324,885 on Jan 22, 2009
• Average Daily Volume - 158,501 contracts*
• Average Daily Turnover - Rs. 778.07 crore*
• Garnered over 50 % market share in two months of operations
• Growth of 187% by clocking an average daily turnover of Rs.1003.38 crore at the end of 2nd month over average daily turnover of Rs. 349.38 crore for the 1st month

As on December 31, 2008 since inception
Total Volumes – Currency Futures volume traded on the Indian Exchanges