MCX to move to new commodity derivatives platform on October 3

MCX will shift its trading operations to its new commodity derivatives platform with effect from October 3, the exchange said on Wednesday. 

Zee Business was the first to report the development. 

In a circular, MCX plans to to conduct a mock trading session on October 2, 2023 "in order to allow members to participate, validate setup and connection", according to a circular. A separate circular will be issued regarding the mock trading session, it said. 

The exchange system will be available from 6 am onwards on October 3 to facilitate early login and verification, MCX added.

The new front-end, comprising the MCX Trade Station (MTS) Version 14.0.2.XX and the Member Control Station (MCS) version 14.0.2.XX, will be available through extranet from Saturday, September 30, it said. 

It also informed members that all the pending orders, including GTC and GTD orders, will be cancelled at the end of trading hours on Friday, September 29, due to the release of the new trading platform. The new version of trading software should be installed only after the close of market hours on Friday, September 29, and after taking the necessary backup at the member's end, it said.

"Members are advised to use their modified back-office software duly tested for the changes in the new trading platform, new trading interface supported-File format Version- 1.2, informed as per circular no. MCX/TECH/394/2023 dated June 19, 2023, which will be effective from Tuesday, October 3, 2023," the exchange added.