MCX-SX (MCX Stock Exchange), India’s new stock exchange, announced launch of website in Malayalam (http://malayalam.mcx-sx.com) and Tamil (http://tamil.mcx-sx.com) which went LIVE on 31st January, 09. With the launch of these websites, MCX- SX is the only stock exchange that offers the benefits of currency futures in 4 regional languages. The other 2 websites i.e. Hindi and Gujarati were launched in December 08. The websites aim at developing the currency futures market by spreading awareness about the use of futures to reduce risk of fluctuating currency prices. Thousands of SMEs, Banks, Corporate Houses including Exporters and Importers across Tamil Nadu and Kerala will now be able to benefit in their own language.
This unique project will continue in other languages by the launch of 7 more website in local language i.e. Marathi, Kannada, Telugu, Bengali, Oriya, Assamese and Punjabi in the coming months. The Marathi site which is ready for launch will formally be inaugurated on 10th Feb ’09 in Mumbai.
“In the wake of global slowdown competitiveness holds the key. Prudent currency management has assumed paramount significance. I am happy to see MCX –SX coming out with their web site in Tamil to educate the exporters and importers about the fluctuation in currency prices and how to manage this risk using currency futures”, said Mr. A. Sakthivel, President, FIEO (Federation of Indian Export Organizations).
Mr. U. Venkataraman, CEO, MCX-SX said, “MCX-SX is committed to offer services that make trading easy and accessible to the market participants with necessary information available in local language. One of our main objectives for this initiative is to reach the audience in best possible way at grass root level in their regional language. With already 4 LIVE regional websites, we have plans to launch 7 more website in local languages.”
Apart from demystifying the concept of exchange-traded currency derivatives, the websites offers information updates on price movements; volumes transacted, and contract details. The new websites features a frequently asked questions (FAQs) section, currency futures price ticker, real-time rendering of charts (i.e., without refreshing entire page), gathering feedback and queries in the regional languages, online charts with magnification facility, and market and membership-related data at a single location.
Within a span of 4 months MCX-SX has become the largest Currency Futures Exchange in India. This is possible through various initiatives of developing markets by innovation, information, education and research.