MCX-SX

DEFINITION MCX-SX stands for "MCX Stock Exchange." MCX-SX is majority-owned (51%) by India's Multi Commodity Exchange and is meant to provide a low-cost, high-speed platform to facilitate the trading of exchange traded currency derivatives while removing counter-party risk. It is an India-wide electronic platform for trading in currency futures under the regulatory control of SEBI.
DESCRIPTION
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MCX-SX’s product is a currency futures contract. It started live operations on 7 October, 2008, by launching monthly contracts in the USD/INR currency pair. Each USD/INR contract on MCX-SX has a life of 12 months from the month in which it was launched. Specifications of the MCX-SX USDINR contract are as stipulated by RBI and Securities SEBI

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