Technical glitch delays trading on MCX, India’s largest commodity exchange
The Multi Commodity Exchange of India (MCX), the country’s largest commodity trading bourse, experienced a technical glitch on Tuesday, causing a delay in the start of trading.
Initially, trading was rescheduled to begin at 9:30 AM instead of the regular 9:00 AM opening time. However, the issue led to a further delay, pushing the commencement to 10:30 AM, News.Az reports, citing Mint.
“Update as on 10:11 AM—Members are requested to note that the trading will start at 10:30 AM due to technical issue. Trading will start from DR. Inconvenience is regretted,” a message on the MCX website stated.
Although the bourse did not disclose the exact cause or nature of the problem, the announcement confirmed that MCX would begin commodity trading at 10:30 AM from its Disaster Recovery (DR) site.
MCX remains India’s leading commodity derivatives exchange, holding about 98% of the market share in commodity futures trading by value. The exchange facilitates trading across a wide range of contracts, including gold, silver, energy, base metals, and agricultural commodities.
The technical disruption comes just a day after MCX launched options contracts on the MCX iCOMDEX Bullion Index (MCX BULLDEX), which became effective on October 27. The index comprises the highly liquid MCX Gold and Silver futures contracts.
This is not the first time the exchange has faced operational issues. In July this year, a similar technical problem delayed trading by over an hour. On July 23, MCX initially planned to resume trading by 9:45 AM, later revising it to 10:10 AM. However, trading only began at 10:15 AM after clearing technical processes and completing file-sharing protocols.
Monday’s incident once again underscores the growing need for robust technological infrastructure at one of India’s most critical trading platforms.
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