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MCX of the Multi Commodity Exchange of India, India’s largest non-agri commodity exchange, will be resuming trading at 1 pm on Tuesday after experiencing a technical issue that led to a temporary shutdown. According to a circular issued by MCX, the trading hours for the commodity derivatives segment on February 13, 2024, have been revised from 9 am to 1 pm.
Initially, the trading was delayed until 11 am due to issues with file generation.However, trading has not taken place since the usual opening time of 9 am.
Anuj Gupta, Head of Commodity & Currency at HDFC Securities, mentioned that this is the first time such an issue has occurred since the launch of the new trading platform. He attributed the problem to a software glitch at MCX, affecting the uploading of margin, collateral, and positions in the system, according to an ET report.
Both MCX and technology vendor Tata Consultancy Services (TCS) are actively working to resolve the issue, as reported by ET Now. MCX facilitates trading of various commodities including bullion contracts (gold and silver), base metals, energy (crude oil and natural gas), and agri commodities such as cotton, crude oil, kapas, and mentha.
Shrey Jain, Founder & CEO of SAS Online, expressed that brokers are eagerly awaiting position, margin, and trade files from MCX, as the processing of the previous trading session is pending. Once the files are received, the Beginning of Day process will be initiated to prepare the system for today’s trading.
Meanwhile, MCX shares witnessed a decline of over 3% on the NSE, reaching a day’s low of Rs 3,375.
Initially, the trading was delayed until 11 am due to issues with file generation.However, trading has not taken place since the usual opening time of 9 am.
Anuj Gupta, Head of Commodity & Currency at HDFC Securities, mentioned that this is the first time such an issue has occurred since the launch of the new trading platform. He attributed the problem to a software glitch at MCX, affecting the uploading of margin, collateral, and positions in the system, according to an ET report.
Both MCX and technology vendor Tata Consultancy Services (TCS) are actively working to resolve the issue, as reported by ET Now. MCX facilitates trading of various commodities including bullion contracts (gold and silver), base metals, energy (crude oil and natural gas), and agri commodities such as cotton, crude oil, kapas, and mentha.
Shrey Jain, Founder & CEO of SAS Online, expressed that brokers are eagerly awaiting position, margin, and trade files from MCX, as the processing of the previous trading session is pending. Once the files are received, the Beginning of Day process will be initiated to prepare the system for today’s trading.
Meanwhile, MCX shares witnessed a decline of over 3% on the NSE, reaching a day’s low of Rs 3,375.
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