MCX shares hit fresh 52-week high on implementation of new CDP platform from October 16

Shares of the country’s largest commodity derivatives exchange in early trade on Wednesday (October 11) gained as much as 2.87 per cent to hit a fresh 52-week high of Rs 2158.90 apiece on the BSE. The gains in the stock were triggered after MCX proposed to go live with its new commodity derivatives platform on Monday, October 16.

“We would like to inform you that MCX has, vide Circular no.: MCX/TECH/694/2023 dated October 10, 2023 informed its members that the Exchange proposes to go live with new Commodity Derivatives Platform with effect from Monday, October 16, 2023,” said the company today in a regulatory filing.

The announcement to this effect came two days after MCX received approval from SEBI to launch its new commodity derivatives platform (CPD). "SEBI Technical Advisory Committee has recommended that MCX and MCXCCL go Go-Live with the CDP and to intimate SEBI regarding the proposed date for Go Live," the company said in an exchange filing on October 8.

"Accordingly, SEBI has withdrawn its directions to MCX and MCXCCL to keep the proposed Go-Live of CDP in abeyance," the filing added.

Earlier, the exchange proposed to go live with its new platform on October 3.

At around 9:30 am, the stock of MCX traded 2 per cent higher at Rs 2141.8 per share on the BSE.

Shares of MCX in the last one year have gained 62 percent, while Nifty during the same period has surged by over 16 per cent.