MSEI plans to launch two new derivative products in the currency segment, one new interest rate futures (IRF) product and two new equity indices linked to derivative contracts by next year. India’s third national-level stock exchange has been operational since 31 December 2012. More than 1,500 stocks are traded on the MSEI currently.
MSEI, India’s new stock exchange, is recognised by Securities & Exchange Board of India. It is India’s third functional and recognised stock exchange after BSE and NSE. There is huge demand for shares of MSEI due to strong listing of BSE and upcoming IPO of NSE. A clutch of financial institutions now own more than 34% of MSEI, as do investors including Rakesh Jhunjhunwala, Radhakishan Damani and Nemish Shah.