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Business News/ Markets / MCX share price hits 52-week high as bourse to launch new commodity derivatives platform from October 16
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MCX share price hits 52-week high as bourse to launch new commodity derivatives platform from October 16

Multi Commodity Exchange of India (MCX), the largest commodity bourse in the country, said it will go live with its new commodity derivatives platform (CDP) on October 16, 2023.

MCX had received approval from capital markets regulator Securities and Exchange Board of India (SEBI) to launch its CDP on October 8.Premium
MCX had received approval from capital markets regulator Securities and Exchange Board of India (SEBI) to launch its CDP on October 8.

MCX share price hit a 52-week high Wednesday after the company announced the date to go live with its commodity derivatives platform. MCX shares gained as much as 2.86% to a 52-week high of 2,158.90 apiece on the BSE.

Multi Commodity Exchange of India (MCX), the largest commodity bourse in the country, said it will go live with its new commodity derivatives platform (CDP) on October 16, 2023.

Read here: MCX to go live on new commodity derivates platform on October 16; mock session on October 15

The bourse had received approval from capital markets regulator Securities and Exchange Board of India (SEBI) to launch its CDP on October 8.

MCX also plans to conduct mock trading on October 15, 2023, to allow members to participate, validate setup and connection during the mock trading session.

The new commodity derivatives platform for MCX is serviced by Tata Consultancy Services (TCS).

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The board of MCX in February 2021 had decided to award the contract for implementation of Commodity Derivatives Platform to TCS, thereby migrating to TCS’ software to run its technology platform.

In June 2023, MCX had announced an extension of the support services being rendered by its existing software vendor, 63 Moons Technologies till December 2023. This renewal has come at a quarterly price of 125 crore, which means 250 crore for the July-December 2023 period.

At 9:40 am, MCX share price was trading 1.84% higher at 2,137.40 apiece on the BSE.

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Published: 11 Oct 2023, 09:43 AM IST
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