MCX technical glitch: Trading systems resume normal functioning; investigation initiated

Commodity exchange MCX on Tuesday informed stock exchanges BSE and NSE that all trading systems had resumed normal functioning at 1:25 pm. An investigation into the cause of the technical glitch earlier in the day has been initiated on priority. MCX said it remains committed to identifying the root cause and implementing necessary corrective measures.

"Updates on our findings and actions taken will be shared in due course. We sincerely regret the inconvenience caused to market participants and appreciate their patience and understanding," MCX told stock exchanges.

Due to a technical issue at the exchange, the commencement of trading on Tuesday was delayed. Operations were shifted to the Disaster Recovery (DR) site, and trading eventually started at 1.25 pm.

Earlier in the morning, MCX had issued at least three separate updates: first postponing the opening to 9:30 am, then to 10 am and later to 10.30 am, before extending it further. The commodity exchange stays open from Monday to Friday from 9 am to 11:30 pm, and up to 11:55 pm on account of day light savings typically between every November and March of the following year.

The disruption came a day after MCX announced the launch of monthly options contracts on the MCX iCOMDEX Bullion Index (MCX BULLDEX®). The index, which represents the precious metals segment, comprises highly traded gold and silver futures contracts on the exchange.

MCX said the new options contracts would provide market participants with a versatile risk management tool, combining diversified exposure to bullion with the flexibility of options trading.