The Metropolitan Stock Exchange (MSE) is one of India's nine stock exchanges recognized by the Securities and Exchange Board of India (SEBI) under Section 4 of Securities Contracts (Regulation) Act, 1956. The Exchange was notified of a "recognized stock exchange" under Section 2(39) of the Companies Act, 1956 by the Ministry of Corporate Affairs, Govt. of India, on December 21, 2012 Ms. Latika S Kundu was appointed as Managing Director & Chief Executive Officer on March 12, 2020 MSE commenced operations in the Currency Derivatives(CD) Segment on October 7, 2008, under the regulatory framework of SEBI and RBI. MSE launched Capital Market Segment, Futures & Options Segment and flagship index ‘SX40’ on February 9, 2013, trading commenced on February 11, 2013. SX40 is a free-float based index consisting of 40 large-cap liquid stocks, representing diverse sectors of the economy. Trading in the index derivatives began on May 15, 2013. Its base value is 10,000 and base date is March 31, 2010. The Debt Market Segment of MSE, was launched on June 7, 2013, and trading commenced on June 10, 2013. The Exchange started live trading in cash-settled Interest Rate Futures (IRF), on 10-year Government of India security, in its CD Segment from January 20, 2014. MSE offers an electronic, transparent and hi tech platform for trading in capital market, F&O, CD, IRF and Debt Market segments. Clearing and settlement of trades are conducted through its clearing corporation, Metropolitan Clearing Corporation of India Ltd. The shareholding of MSE includes public and private sectors banks, Exchange, Financial Institutions and private investors. Some of these shareholders are SBI, Union Bank of India, Canara Bank, PNB, BOI, Bank of Baroda, HDFC Bank, Axis Bank, MCX, IL&FS, IFCI, & Mr Radhakishan S Damani, Mr Siddhartha Balachandran, Mr Nemish Shah.