BSE reduces membership fee

Bangalore: Within a week after MCX Stock Exchange (MCX-SX) reduced their stake to 10 percent - a necessary condition for it to start trading in shares, the Bombay Stock Exchange (BSE) feels the heat and decided to reduce the membership fee for new members by 90 percent to Rs.10 lakh with immediate effect, reports PTI.

The reduction seems to be effective across equity products offered by the exchange, which include cash, derivatives and debt. Last week the two MCX-SX promoters - Financial Technologies and MCX completed divestment of their 90 percent stake to 18 banks and financial institutions.

MCX-SX, India's new stock exchange, appositely reflects how the world's most evolved and hi-tech new-generation exchanges should look like in future. With cutting-edge technology, world-class services and cost optimization, MCX-SX has altered the face of the Indian financial markets.