Multi Commodity Exchange of India (MCX) has announced the launch of a new web-based commodity derivatives platform (CDP) on October 3, with a mock session planned a day earlier.
Over the past month, the stock of the Mumbai-based commodity exchange has jumped 18 percent against a 1.4 percent rise in the benchmark Sensex. Earlier this week, the stock also scaled a 52-week high of Rs 1,962 apiece.
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In a circular dated September 27, the company said that the new CDP platform would interface with members for providing risk management, collateral management, and settlement of related services to members and market participants.
The system would be available for logging in from 6 am to facilitate early login and verification.
During the October 2 mock session, users can login with their IDs made available in the mock environment, which would then be carried forward in the new system upon implementation, MCX said.
As per reports, the new front-end MCX Trade Station and Member Control Station (MCS) will be available on the Secure File Transfer Protocol (SFTP) server from September 30. Typically, the SFTP server uses shell encryption to provide a high level of security.
The exchange has enabled two-factor authentication for members for login to CDP SFTP server. The two-factor authentication uses Google authenticator for time-based one-time code (TOPT).
The new web portal (e-Clear) interface would also be made live along with the commodity derivative platform.
After a year of expensive extensions, MCX is also planning to part ways with 63 Moon Technologies, its former anchor shareholder. The separation would entail a crucial technology platform, that would help run its operations, including trading, clearing, and settlements.
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