MCX, the country’s largest commodity exchange, has extended the contract for support services being rendered by its existing vendor, 63 Moons Technologies for six months, beginning from January 1, 2023.
It is a commercial transaction entered between the parties, who are not related, and is in the normal course of business, hence it is not a related-party transaction, it said.
The company does not hold shares in 63 Moons and pursuant to this transaction no issue of shares of the company are envisaged, it added.
MCX has signed an agreement with TCS for developing a new software system for the exchange and the present arrangement with 63 Moons is a stop-gap arrangement.