CNBC-TV18 Newsbreak Confirmed: MCX to go live on new tech platform today
The commodity exchange has said that the trading will now start on October 16 from 10:45 am instead of 9:00 am. The trading will shift on the new trading software, and the time will be applicable only for trading on Monday, October 16.
The Multi Commodity Exchange (MCX) on Tuesday (October 10) said it will go live with the new Commodity Derivatives Platform with effect from Monday, October 16, 2023.
The commodity exchange has said that the trading will now start on October 16 from 10:45 am instead of 9:00 am. The trading will shift on the new trading software, and the time will be applicable only for trading on Monday, October 16.
Also, the exchange has planned to conduct mock trading on October 15, 2023, in order to allow members to participate, and validate setup and connection, for which a separate circular would be issued.
MCX announced last month that it will go live with the new platform developed by TCS on October 3, the implementation was put on hold soon after by the capital market regulator Sebi due to "technical issues" and in the wake of some pending legal matters.
While the exchange has been holding mock trading sessions for the new software for quite a long time and will continue on October 10-12, it said Sebi has withdrawn its directions to "keep the proposed Go-Live of CDP (Commodity Trading Platform) in abeyance".
The exchange said Sebi's decision followed replies submitted by it and its clearing corporation to the regulator on the complaint of Chennai Financial Markets and Accountability (CFMA).
(Edited by : Shoma Bhattacharjee)
First Published: Oct 10, 2023 9:05 PM IST
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