On October 11, MCX reached a 52-week high of Rs 2,179.45 after the company’s announcement of its upcoming shift to a new platform generated excitement among investors. The stock was trading 3.28 percent higher at Rs 2,168.75 at 11:49 am on the National Stock Exchange.
The company stated in an exchange filing dated October 11 that it plans to launch the new commodity derivatives platform on October 16.
A mock session for the commodity derivative platform will be conducted on October 15. Members are encouraged to actively participate in the proposed mock session to test and become familiar with the new application interface. Detailed information on the mock session is available on MCX’s official website.
The launch of the new commodity derivatives platform was delayed because SEBI had temporarily suspended it until the first week of October. This delay followed writ petitions filed by the Chennai Financial Markets and Accountability in the Madras High Court, which raised technical concerns about the platform transition. SEBI decided to exercise caution and take a prudent approach in response to these concerns.
In a circular dated September 27, the company announced that the new CDP platform would interface with members to provide risk management, collateral management, and settlement services to both members and market participants.
MCX shares have gained 66 percent over the past year and 48 percent in the last six months.