MCX hit by technical glitch, trading affected for more than an hour

Trading on Multi Commodity Exchange (MCX), which was to begin 1t 9 am this morning, began at 10:17 am, after India’s largest commodity exchange was hit by a technical glitch. In the morning hours, MCX put out a notice on its website saying that trading has been halted and will resume by 9:45 am.

Things got delayed further after which MCX said it will resume operations by 10:10 am and finally at 10:17 am trading began normally. MCX has not immediately disclosed the reason behind the outage.

In February last year MCX, was hit by a glitch that led to a four-hour suspension of operations. The issue was believed to be related to its transition to a new trading platform.

The bourse has previously faced challenges related to its technology transition from 63 Moons to TCS. MCX offers trading in commodity derivative contracts across various segments, including bullion, industrial metals, energy, and agricultural commodities.

Earlier this month, it introduced Electricity Futures Contracts to meet the growing demand for structured electricity price risk management instruments.

The contract will be available for all 12 calendar months, with trading initially open for the current and next three months.