BackSebi approves new name for MCX Stock Exchange
According to the exchange, the name change is part of a strategy to give it a new identity, disassociate from promoters, shift to a high-growth phase
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Mumbai: MCX Stock Exchange Ltd (MCX-SX) has received approval from the Securities and Exchange Board of India (Sebi) to change its name to Metropolitan Stock Exchange of India Ltd, or mSXI.
According to a statement issued by the exchange, the name change is part of the turnaround strategy to give it 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 the registrar of companies for registration of the new name, it said.
“We are thankful to Sebi for granting the renewal of licence last week and now approving our proposal for a new name. This is a crucial driver of our re-branding initiatives. This will sharpen our focus on raising brand visibility and member engagement programs linked to the exchange’s activities," Saurabh Sarkar, managing director and chief executive officer, MCX-SX, said in the statement.
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