MCX touches record high after announcement of shifting to platform from October 16

The mock session for the commodity derivative platform will be held a day before on October 15. Representative image

MCX touched a 52-week high of Rs 2,179.45 on October 11 after the company’s announcement of shifting to a new platform excited investors. The stock was trading 3.28 percent up at Rs 2,168.75 at 11.49 am on the National Stock Exchange.

“MCX plans to go live with the new commodity derivatives platform from October 16, said the company in an exchange filing dated October 11.

Also read: MCX hits 52-week high on SEBI nod to launch commodity derivatives platform

The mock session for the commodity derivative platform will be held a day before on October 15. The company said that members are encouraged to actively participate in the proposed mock to test and get acquainted with the new application interface. A detailed note on the same is available on MCX’s official website.

The launch of the new commodity derivatives platform was delayed as SEBI had put a temporary suspension till the first week of October. This delay was after writ petitions were filed by the Chennai Financial Markets and Accountability in the Madras High Court. These petitions raised technical concerns about the platform transition, leading SEBI to exercise prudence and take a cautious approach.

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In a circular dated September 27, the company announced that the new CDP platform would be interfacing with members to offer risk management, collateral management and settlement services to both members and market participants.

MCX shares have gained 66 percent in the last year and 48 percent in the last six months.