India's MCX-SX struggling to lure foreign brokers
The new exchange may face an uphill battle to challenge the dominance of local rival the National Stock Exchange after a regulatory scolding.
Fledgling Indian bourse MCX-SX is likely to struggle to attract foreign broker-dealers as members and to challenge National Stock Exchange dominance after being ordered to improve governance by the regulator.
Last week the Securities and Exchange Board of India (Sebi) granted MCX-SX a one-year extension of its exchange status from September 16, on condition that it sets up an independent committee to scrutinise its financing and management. Such a move is unprecedented, says an an…
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