MCX prepares for Commodity Derivatives Platform launch on October 16

MCX New Trading Platform: The Multi Commodity Exchange of India (MCX) has announced the launch date for its highly anticipated commodity derivatives platform (CDP). MCX, the largest commodity bourse in India, revealed that its new platform will go live on October 16, 2023, following approval from the Securities and Exchange Board of India (SEBI) on October 8.

MCX touches 52-week high after announcement of shifting to platform from October 16

This announcement sent MCX's share price soaring to ₹2,168 apiece on the Bombay Stock Exchange (BSE), marking a 3.32% increase at 10:22 a.m. on Tuesday. Investors and traders are eagerly anticipating the launch, which promises enhanced trading experiences and opportunities.

To ensure a smooth transition, MCX has scheduled a mock trading session on October 15, 2023. During this session, members will have the chance to participate, validate setups, and test connections, ensuring a seamless experience when the platform officially goes live.

In preparation for this, MCX took the decision to migrate its technology platform to Tata Consultancy Services (TCS), a move approved by the MCX board in February 2021. Additionally, the exchange extended its support services contract with existing software vendor 63 Moons Technologies until December 2023, demonstrating a commitment to robust operational infrastructure.

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