MCX issues clarification on trading disruption triggered by technical glitch
Commodity Exchange
(
MCX
) has issued an official statement explaining the reason behind Wednesday morning's unexpected
trading halt
, attributing the disruption to repetitive database issues that delayed overnight clearing system processes.
'The delayed trading at the exchange was caused by repetitive database issues, which delayed overnight clearing systems-related processes. The issue has been examined, and corrective measures have been taken. Trading has since returned to normal, and volumes were back to typical levels over the course of the day,' the exchange said in an official statement.
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The clarification came after trading was suspended for over an hour at the start of the day, prompting concern among market participants.
Additional monitoring protocols have been activated to detect similar anomalies in the future.
'A full assessment is underway, and all required actions will be taken,' the statement added, noting that the exchange regrets the inconvenience caused to its members and investors.
Trading halted for over an hour
The disruption began just before market opening. MCX, which was scheduled to begin trading at 9:00 am, initially announced that operations would resume by 9:45 am.
However, the halt continued, and the exchange later revised the expected resumption time to 10:10 am. Ultimately, normal trading resumed at 10:17 am.
Previous incidents and platform migration
This is not the first time MCX has faced technology-related operational setbacks. In February 2024, the exchange suffered a major glitch that led to a four-hour trading suspension.
That disruption was widely believed to be linked to MCX's technology transition from 63 Moons to
Tata Consultancy Services
(TCS).
The migration to the new platform was a significant undertaking and, at the time, had raised concerns about system stability.
MCX's role in the commodity derivatives market
MCX is India's largest commodity derivatives exchange, offering trading across a broad range of contracts in bullion, industrial metals, energy, and agricultural commodities.
The exchange plays a pivotal role in facilitating risk management and price discovery in the country's commodity markets.
MCX has assured market participants that it remains committed to maintaining robust systems and transparent communications as part of its operational priorities.
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