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MCX New Trading Platform: MCX announces CDP launch on Oct 16, 2023, after SEBI approval. Share price rises 3.32% on BSE. Check out for more info.

MCX New Trading Platform: MCX receives approval to launch new derivatives platform; launch on October 16

MCX announces CDP launch on Oct 16, 2023, after SEBI approval. Share price rises 3.32% on BSE; investors await enhanced trading experiences. Mock trading scheduled on Oct 15 for a seamless transition

MCX prepares for Commodity Derivatives Platform launch on October 16

<h2>MCX announces CDP launch on Oct 16, 2023, after SEBI approval. Share price rises 3.32% on BSE; investors await enhanced trading experiences. Mock trading is scheduled on Oct 15 for a seamless transition</h2>

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.
<h3>MCX touches 52-week high after announcement of shifting to platform from October 16</h3>
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. Also Watch: <a href="https://www.editorji.com/business-news/sebi-holds-mcx-s-new-platform-launch-amid-concerns-from-chennai-financial-markets-accountability-1695961217272">SEBI holds MCX's new platform launch, amid concerns from Chennai Financial Markets &amp; Accountability</a>

India's MCX postpones new platform launch following SEBI's regulatory concerns. Chennai Financial Markets and Accountability group's worries about MCX's technical readiness prompt SEBI intervention

SEBI holds MCX's new platform launch, amid concerns from Chennai Financial Markets & Accountability 

<h2>India's MCX postpones new platform launch following SEBI's regulatory concerns. Chennai Financial Markets and Accountability group's worries about MCX's technical readiness prompt SEBI intervention</h2>

&nbsp;India's Multi Commodity Exchange of India (MCX) has announced that the launch of its new commodity derivatives platform, scheduled for next week, has been put on hold following directives from the country's markets regulator, the Securities and Exchange Board of India (SEBI). MCX confirmed that SEBI will be discussing the platform in its upcoming technical advisory committee meeting.
MCX revealed that they will continue conducting mock tests on the platform until further instructions are received from SEBI.&nbsp;
This decision comes after MCX had previously announced the launch of its new platform on October 3, following multiple delays.
SEBI's intervention was prompted by concerns raised by the Chennai Financial Markets and Accountability (CFMA), an investor group, regarding MCX's technical support for the new platform. CFMA had urged the market regulator to ensure that MCX had the necessary technical infrastructure in place.
In response to CFMA's concerns, SEBI informed MCX about the letter received from CFMA dated September 27, highlighting the "technical issues" involved. As a result, SEBI decided to address these concerns during its committee meeting. Also Watch: <a href="https://www.editorji.com/business-news/personal-finance/mcx-prepares-for-major-upgrade-new-commodity-platform-to-launch-on-october-3-1695897528444">MCX prepares for major upgrade: New commodity platform to launch on October 3</a>

On October 2, MCX will host a mock trading session, offering members a chance to actively engage, validate their configurations, and secure connections to the upcoming platform

MCX prepares for major upgrade: New commodity platform to launch on October 3

On October 2, MCX will host a mock trading session, offering members a chance to actively engage, validate their configurations, and secure connections to the upcoming platform

The Multi-Commodity Exchange of India is gearing up for a big transformation, as it prepares to launch its new commodity trading platform on October 3. In an official statement released on Wednesday, MCX announced this development.
The exchange has taken meticulous steps to ensure a seamless transition, and to facilitate this, MCX will conduct a mock trading session on October 2. This session will provide an opportunity for members to actively participate, validate their setup, and establish a secure connection to the upcoming platform.
The official notification from MCX reads, "Exchange will go live with the new Commodity Derivatives Platform with effect from Tuesday, October 03, 2023." In addition, the exchange is taking proactive measures by allowing early login and verification on the morning of October 3, with access available from 6:00 am onwards.
This transformation follows MCX's decision to extend its contract with software vendor 63 Moons Technologies for six months earlier this year. The contract renewal amounted to ₹1.25 billion ($15.24 million) per quarter.
MCX had chosen Tata Consultancy Services (TCS) as its new service provider in 2021, marking a &nbsp;shift in its technology landscape.
Also Watch: <a href="https://www.editorji.com/business-news/mcx-set-to-go-live-on-tcs-platform-from-oct-3rd-say-sources-shares-jump-by-9-1695644731314">MCX set to go live on TCS platform from Oct 3rd, say sources; shares jump by 9%</a>

MCX's shares experienced a 9% surge, reaching a new 52-week high, as the exchange prepares for an imminent transition to a new trading platform provided by Tata Consultancy Services

MCX set to go live on TCS platform from Oct 3rd, say sources; shares jump by 9%

MCX's shares experienced a 9% surge, reaching a new 52-week high, as the exchange prepares for an imminent transition to a new trading platform provided by Tata Consultancy Services

Multi Commodity Exchange (MCX) witnessed a surge in its share price, soaring over 9% and hitting a new 52-week high on Monday. This surge comes as MCX is gearing up to go live with its brand-new trading platform, serviced by Tata Consultancy Services.
While MCX has not officially confirmed the exact date of its transition to the TCS-backed platform, it could be as early as the 3rd of October. This is pending approval by the capital markets regulator, which needs to be secured to commence operations.&nbsp;&nbsp; Sources say that MCX has been in regular touch with SEBI over the past month or so, to ensure a smooth approval process.&nbsp; In February 2021, the MCX board decided to partner with TCS to manage their commodity derivatives platform. However, this migration was delayed several times, which resulted in short term extensions of the software support service arrangement with 63 moons at a higher price.&nbsp; In June earlier this year, India's largest commodity exchange declared an extension of its support services agreement with its current software vendor, 63 Moons Technologies, until December 2023.
MCX is likely to keep the 63 Moons platform as a backup until December, in case of any issues on the new TCS platform. However, sources have revealed that the mock sessions on the TCS platform have so far been smooth. Also Watch: <a href="https://www.editorji.com/business-news/august-sees-record-participation-of-retail-investor-in-derivatives-market-report-1695045742011">August sees record participation of retail investor in derivatives market: Report</a>

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