Mumbai, Sept 23 (KNN)  MCX Stock Exchange (MCX-SX) has received approval from Capital Market Regulator SEBI vide its letter dated 17th September 2014 to change its name and operate under the new iconic name, ‘Metropolitan Stock Exchange of India Ltd’, abbreviated as ‘mSXI’.
 
“The name change is a part of the turnaround strategy to give the exchange a new identity, disassociate from the promoters and shift to a high growth phase. The Exchange is in the process of making an application to Registrar of Companies (RoC) for registration of the new name,” an official release said.
 
The Board of MCX-SX has approved the proposal of rechristening the Exchange a few months ago and subsequently the Exchange submitted an application to SEBI. The functioning and the trading operations will remain seamless as the Exchange would migrate to the brand identity over the next few months upon RoC approval.
 
The Exchange has recently shifted office to new office premises in Bandra Kurla Complex and also moved the data centre to Tata Communications in BKC, Mumbai. The shifting of the data center has also helped the Exchange in vastly improving its latency. This is being appreciated by many market participants.
 
Commenting on the move, MD and CEO, MCX-SX, Saurabh Sarkar said, “We are thankful to SEBI for granting the renewal of license last week and now approving our proposal for a new name. This is a crucial driver of our rebranding initiatives. This will sharpen our focus on raising the brand visibility and member engagement programs linked to the exchange's activities.”  (KNN/ES)