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Trading halted at MCX amid reports of technical glitch
The market is currently halted and is expected to resume by 9:45 AM, the exchange stated initially on its website. However, it later revised the opening time to 10:10 AM as the operations had still not begun. The platform also did not disclose the reason for the disruption.
Reports indicate that such halts usually occur due to a technical glitch. The disruption in trading on MCX could affect trading volumes and hedging activities in key commodities such as gold, silver, crude oil, and base metals.
The securities market regulator, Securities and Exchange Board of India (Sebi), recently, in May, imposed a fine of ₹2.5 million on MCX for lapses in disclosure and for providing inaccurate information regarding its trading software contract.
Recently, the stock of MCX came after Sebi granted approval for the launch of Electricity Derivatives Contracts. The derivatives contracts by MCX will enable generators, distribution companies, and large consumers to hedge against price volatility and manage price risks more effectively, by enhancing efficiency in the power market.
About MCX
MCX, operational since 2003, is India's leading commodity derivatives exchange with a market share of about 98 per cent in terms of the value of commodity futures contracts traded in the financial year 2024-25. It offers trading in a diverse range of commodities, spanning multiple segments including bullion, energy, metals and agri commodities, as well as sectoral commodity indices.
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