MCX to implement its new commodity derivative platfom on October 3. Mock session on this date
MCX will go live with its new commodity derivative platform on October 3.
Multi-Commodity Exchange of India (MCX) will implement its new commodity trading platform on October 3, the exchange said in a statement on Wednesday. The commodity exchange will also conduct a mock trading on October 2 to allow the members to participate, validate setup and connection.
“In terms of the provisions of the Rules, Bye-Laws and Business Rules of the Exchange and in continuation of earlier circular no. MCX/TECH/624/2023, dated September 18, 2023, members of the Exchange are notified as under: Exchange will go live with new Commodity Derivatives Platform with effect from Tuesday October 03, 2023”, MCX said in a statement.
“Further, In this regards the Exchange has also planned to conduct mock trading on October 2, 2023, in order to allow members to participate, validate setup and connection during the mock trading session for which separate circular would be issued. To facilitate early login and verification on October 03, 2023, Exchange system would be available for login from 6:00 am onwards”, the MCX statement added.
Earlier this year, MCX had extended its contract with software vendor 63 Moons Technologies for six months. The company renewed the contract for 1.25 billion rupees ($15.24 million) per quarter, beginning July 1, compared with 810 million rupees in the previous renewal and 600 million rupees before that.
63 Moons Technologies's long-term contract ended last year. The commodity exchange MCX had selected Tata Consultancy Services (TCS) as its new service provider in 2021, PTI reported.