MCX rallies over 3.5% to record high as trading begins on new platform

The trading session on MCX’s new software platform finally began at 10.45 am on October 16.

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Shares of Multi Commodity Exchange of India (MCX) rallied around 3.5 percent in early trade to an all-time high of Rs 2,185 on October 16 as trading began on the company’s new software platform.

The trading session on the new software platform started at 10.45 am on October 16 and continued without any glitches so far, brokers said.

At 11.28am, shares of MCX were trading 3 percent higher at Rs 2,173.10 on the National Stock Exchange.

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MCX unveiled its web-based commodity derivatives platform (CDP) on October 10, shortly after gaining approval from the Sebi technology panel. The project had witnessed repeated delays with the market regulator.

The exchange hosted a mock trading session on October 15 to enable members to participate and validate their setups and connections.

Also Read | MCX hits 52-week high on SEBI nod to launch commodity derivatives platform

The plan to go live with the new platform was also cheered by investors as the stock had scaled a record high following the announcement on October 11.

Shares of the company had also soared after it finally received the green light from the regulator. Riding on the plans to launch the new platform, shares of MCX have also surged 22 percent in the past month.

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

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