Technical glitch delays trading at MCX on Tuesday

Mumbai: Multi Commodity Exchange of India (MCX), a commodity derivatives bourse, experienced a delayed start in trading on Tuesday on account of a technical glitch. Trading, which was scheduled to start at 9 am, began at 1 pm.

"The delayed start was attributed to the slow processing and generation of backend files for the members... The matter is being examined for identifying the root cause which led to the issue," said the exchange in a press release.

The normal trading at MCX takes place in two sessions; the morning session is between 9 am and 5 pm, and the evening session is from 5 pm to 11:30 pm.


"The MCX has recently shifted their software vendor after which we have experienced a delay in uploading margin and positioning files on the exchange, which is important for the traders," said Anuj Gupta, head of commodity & currency at HDFC Securities. "Today's shutdown of four hours was also due to the same delay and has hampered the trade volumes on the exchange."

Derivatives of crude oil, gold, natural gas, silver, aluminium, copper, and steel are among the popular products traded on MCX.