MCX Shares Soar To Record High On New Platform Launch

The shares of Multi Commodity Exchange surge to hit a life-time high after the company on Octover 10 announced to go live on the new web-based commodity derivatives platform (CDP) from October 16, with a mock session scheduled on October 15.

MCX, in its circular said that the mebers can log in to the new set up namely the new trading work station - MCX Trade Station (MTS), and new member admin terminal - Member Control Station (MCS) from October 14, 2023. It further added that all pending orders at the end of trading hours on Friday, October 13, will be cancelled on the platfom launch.

The company had last moth announced that it will go live with the new platform developed by TCS on October 3. The implementation was later put on hold by capital market regulator Securities and Exchange Board of India (SEBI) due to technical issues and some pending legal matters.

The exchange has been holding mock trading sessions for the new software for a long time now and will continue on October 10-12. As per reports, SEBI has withdrawn its directions to 'keep the proposed Go-Live of CDP in abeyance'.

The stock is currently trading with gains of more than 3% in and intra-day basis and has been on a rising trend for the last 5 trading sessions. The shares of MCX have surge over 12% in the last 5 sessions and are currently trading at Rs 2,168 per share.