MCX shelves new software launch; to announce fresh date

Our Bureau Mumbai | Updated on July 17, 2020

MCX, the country's largest commodity exchange, has decided not to go live with its new software from Monday. The new version of trading software had the feature to accept negative bids.

MCX said it will communicate the new date for going live with the upgraded software through a separate circular. The exchange recently attracted investors ire for settling its April crude contract at negative $₹2,884 a barrel, leading to a loss of ₹435 crore.

In a circular on Friday, MCX said that the new version of software will not go live from Monday (July 20) and the revised go live date will be communicated separately.

However, it said all members are requested to actively participate in the mock trading, which is scheduled from Saturday to avoid any issues, when the exchange goes live with the new version of the trading software.

Post the mock trading session, MCX directed members to log-in into the live environment with existing live version between 2.30 pm and 3 pm to check the connectivity to avoid any log-in problem on the next trading day.

Published on July 17, 2020

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