MCX technical glitch: Commodity trading begins at 1 pm after several delays

The Multi Commodity Exchange (MCX) resumed trading in commodity markets at 1 PM on Tuesday, February 13, after several delays due to technical glitches.

Commodity derivatives trading on MCX began at 1 pm instead of the normal trading time from 9 am. The commodity bourse earlier delayed time to 10 am and then 11 am and then to 1 pm.

The technical issue now seems to be solved and the commodity bourse has resumed trading. 

The delayed start was due to slow processing and generation of backend files, according to MCX.

“Trading hours for the commodity derivatives segment for February 13, 2024 has been revised from 9:00 AM to 01:00 PM. Members are requested to note, due to delay in file generation exchange, the market will start from 01:00 PM,” MCX had said in a circular.

The exchanges' team is working to resolve the issue, the commodity bourse had said earlier. 

“We are facing some technical issues and teams are working to resolve the same. The trading is likely to start at 1 pm” MCX spokesperson told Livemint on Tuesday morning before the beginning of normal trading hours.

Shrey Jain, Founder & CEO, SAS Online said brokers are awaiting position, margin and trade files from MCX without which processing of previous trading sessions is pending.

“Once files are received we will do the Beginning of Day process and prepare the system for today’s trading,” said Jain.

Meanwhile, the equity market was trading higher led by gains in banking and financial services stocks amid mixed global cues.

At 11:10 am, the BSE Sensex was up 483.97 points, or 0.68%, at 71,556.46, while the NSE Nifty 50 was trading 126.85 points, or 0.59%, higher at 21,742.90.

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