MCX, India’s largest commodity derivatives exchange, has declared the commencement of its new web-based Commodity Derivatives Platform (CDP), set to go live at 10:45am on October 16th, differing from its regular 9am start time. This deviation in trading hours is exclusive to the debut day, as trading will revert to its typical 9am opening from October 17th onward, as per a company announcement in an exchange filing.
The launch announcement of the CDP came on October 10th, subsequent to obtaining approval from the SEBI tech panel, following a series of delays with the market regulator. The MCX was transparent about the hurdles faced during the project, acknowledging the recurrent postponements encountered while coordinating with the market regulator.
For ensuring smooth operations and member acclimation to the new system, MCX will facilitate a mock trading session on October 15th. The purpose of this session is to enable members to validate their setup and connections, ensuring seamless interaction with the new platform once live.
Furthermore, the exchange has notified that all standing orders, which include those of type GTC/GTD, active at the close of trading hours on October 13th, will be cancelled due to the transition to the new CDP.
This shift to a web-based platform reflects MCX’s continuous endeavor to enhance its trading infrastructure, facilitating a more streamlined and user-friendly experience for its trading members, whilst adhering to regulatory compliances and maintaining market integrity.
