Multi Commodity Exchange of India (MCX) experienced a significant uptick of around 3.5 percent in early trading, reaching an all-time high of Rs 2,185 on October 16, coinciding with the commencement of trading on the company’s new software platform.
The trading session on this innovative software platform commenced smoothly at 10:45 AM on October 16, with brokers confirming an absence of any technical glitches thus far.
As of 11:28 AM, MCX shares were trading 3 percent higher at Rs 2,173.10 on the National Stock Exchange.
MCX had recently unveiled its web-based commodity derivatives platform (CDP) on October 10, subsequent to gaining approval from the Sebi technology panel. The project had experienced some delays due to regulatory processes.
In preparation for the launch, the exchange had organized a mock trading session on October 15, allowing members to participate and validate their setups and connections.
Investors and market enthusiasts welcomed the move to go live with the new platform, which prompted MCX’s stock to reach a record high following the official announcement on October 11.
The shares of MCX also witnessed a surge after receiving regulatory approval. Riding on the anticipation of the new platform’s launch, MCX’s shares have demonstrated a remarkable 22 percent increase in value over the past month.