The Bombay High Court has set aside the Sebi order denying MCX-SX permission to conduct any business of a stock exchange other than trade in currency derivatives and directed Sebi to consider MCXSX's application afresh. This is a welcome development and Sebi should now move expeditiously to let the new exchange start operations in all segments of securities trading: in equities, bonds and their derivatives. The court has deemed unsound the various grounds on which Sebi had disqualified MCX-SX.