SEBI asks MCX to keep Go-Live of Commodity Derivatives Platform in abeyance

Multi Commodity Exchange of India Limited had announced regarding the new Commodity Derivatives Platform (CDP).

SEBI has vide email dated September 28, 2023 forwarded a copy of the letter dated September 27, 2023 from Chennai Financial Markets and Accountability (CFMA) regarding CDP. It may be noted that writ petitions filed by CFMA on CDP is pending before the Hon'ble Madras High Court for disposal.

The Regulator has informed that since the matter involves technical issues, the same would be discussed in the SEBI Technical Advisory Committee meeting, which would be held shortly. Meanwhile, SEBI has advised the Exchange to keep the proposed Go-Live of CDP in abeyance.

As the Exchange is ready and keen to go-live as soon as permitted, the Exchange will continue to conduct CDP mock tests pending further directions in the matter from SEBI.

Shares of Multi Commodity Exchange of India Limited was last trading in BSE at Rs. 2100.35 as compared to the previous close of Rs. 1935.20. The total number of shares traded during the day was 323869 in over 21017 trades.

The stock hit an intraday high of Rs. 2119.60 and intraday low of 1942.65. The net turnover during the day was Rs. 668138698.00.

Source : Equity Bulls

Keywords

MultiCommodityExchangeofIndia INE745G01035 MCX CommodityDervativesPlatform GoLive Abeyance SEBI CFMA WritPetition