On October 11, MCX reached a 52-week high of Rs 2,179.45 as a result of investors' excitement about the company's statement that it would switch to a new platform. On the National Stock Exchange, the stock was trading 3.28 percent higher at Rs 2,168.75 at 11:49 a.m.
Beginning on October 16, MCX intends to launch the new commodity derivatives platform. On October 15, the day prior, the commodity derivative platform's simulated session will take place.
The proposed mock is meant for the members to participate in the tryout actively, and familiarize themselves with the new application interface. The official website of MCX has a full note on the subject.
The SEBI placed a temporary ban until the first week of October, which caused the debut of the new commodity derivatives platform to be postponed.
After the written petitions were submitted to the Madras High Court by the Chennai Financial Markets and Accountability, there was a delay. Due to the technological issues revealed by these petitions, SEBI decided to exercise caution and take a cautious approach.
The new CDP platform would interact with members in order to provide risk management, collateral management, and settlement services to both members and market participants.