MCX Stock Exchange (MCX-SX) has received approval from Capital Market Regulator SEBI to change its name and operate under the new iconic name, 'Metropolitan Stock Exchange of India', abbreviated as 'mSXI'. The name change is a part of the turnaround strategy to give the exchange 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 Registrar of Companies (RoC) for registration of the new name.

The board of MCX-SX approved the proposal of rechristening the Exchange few months ago and subsequently the Exchange submitted an application to SEBI. The functioning and the trading operations will remain seamless as the Exchange would migrate to the brand identity over the next few months upon RoC approval.
 
The exchange has recently shifted office to new office premises in Bandra Kurla Complex and also moved the data centre to Tata Communications in BKC, Mumbai. The shifting of the data center has also helped the Exchange in vastly improving its latency. This is being appreciated by many market participants.

Saurabh Sarkar, managing director & CEO, MCX-SX said, "We are thankful to SEBI for granting the renewal of license last week and now approving our proposal for a new name. This is a crucial driver of our rebranding initiatives. This will sharpen our focus on raising the brand visibility and member engagement programs linked to the exchange's activities."

Shares of the company declined Rs 14.05, or 1.7%, to trade at Rs 810. The total volume of shares traded was 89,602 at the BSE (3.08 p.m., Tuesday).