A technical snag in the country’s largest commodity exchange MCX has halted trading for nearly two hours on Wednesday.

The halt in trading has put traders in a quandary as they could not take advantage of price movement.

There was a recurrence of technical problem on the bourse with its trading system at around 01:43 pm on Wednesday.

Special session

The exchange restarted the trading system and members were then allowed to re-login.

In a special session between 03:55 pm and 04:10 pm, members were allowed to cancel their pending orders in the system and normal trading resumed at 04:11 pm, the exchange said in a statement.

However, traders said there was problem in the trading system since 11:46 am.

The matter is being investigated, for identifying the root cause which led to the issue, by the exchange’s technology team along with software vendor and the hardware and operating system original equipment manufacturers, it added.

This is not caused due to any cyber security breach, the exchange clarified.

Last week, NCDEX also suffered a technical snag but the trading was not halted.

“It is a wonder that market regulator SEBI is sitting tight on such frequent technical snags at exchanges without compensating investors. It does not miss an opportunity to penalise investor even for a small genuine mistake,” a trader said.

Investors hit

MCX’s turnover, which was about ₹11,642 crore in the first half of trading session on Tuesday, would have fallen by about 50 per cent, said an investor.

The exchange, which used to issue first half trading details at 5.15 pm, did not release it till late Wednesday evening.

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