{"id":70999,"date":"2023-10-10T12:05:53","date_gmt":"2023-10-10T16:05:53","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/mcx-shares-hit-52-week-high-following-approval-for-new-web-based-platform\/"},"modified":"2023-10-10T12:05:55","modified_gmt":"2023-10-10T16:05:55","slug":"mcx-shares-hit-52-week-high-following-approval-for-new-web-based-platform","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=70999","title":{"rendered":"MCX shares hit 52-week high following approval for new web-based platform"},"content":{"rendered":"
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\u00a9 Reuters. <\/span>
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MCX shares experienced a significant rise in mid-session trade on Monday, rallying to \u20b92,137 on BSE and \u20b92,136 on NSE, and hitting a 52-week high of \u20b92,150 and \u20b92,149.50 respectively. This surge came on the heels of the Securities and Exchange Board of India’s (Sebi) tech panel’s approval for their new web-based Commodity Derivatives Platform (CDP), developed by Tata Consultancy Services <\/span><\/span> (NS:). Despite the rise in MCX shares, both the 30-share and Nifty saw a decline.<\/p>\n

Following intervention from the Commodity Participants Association of India (CPAI), Sebi ensured that MCX had adequate technical support for the new platform. Earlier instructions from Sebi to MCX to keep the proposed go-live of CDP in abeyance were withdrawn, as revealed in a regulatory filing. The Technical Advisory Committee of Sebi recommended the proposed go-live of CDP after initial delays.<\/p>\n

The new platform represents a shift away from MCX’s long-time tech vendor, 63Moons. This transition could either strengthen MCX’s monopoly status or provide an opportunity for rivals National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) if any glitches occur. <\/p>\n

NSE is ready to launch similar contracts for and to challenge MCX’s dominance. Simultaneously, BSE is set to introduce options on futures in precious metals and energy contracts starting from October 9 using the ODIN software.<\/p>\n

However, the new MCX platform will initially lack features like Multi-MAT, LTP-based spread, Spread IOC, and Combination orders. Immediate IP address change requests and certain functionalities will only be accessible through the BaNCS application, potentially impacting algo machines’ efficiency. Despite the shift to the new platform, tech support from 63Moons for MCX will continue until the end of the year.<\/p>\n

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.<\/em><\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. MCX shares experienced a significant rise in mid-session trade on Monday, rallying to \u20b92,137 on BSE and \u20b92,136 on NSE, and hitting a 52-week high of \u20b92,150 and \u20b92,149.50 respectively. This surge came on the heels of the Securities and Exchange Board of India’s (Sebi) tech panel’s approval for their new web-based Commodity […]<\/p>\n","protected":false},"author":1,"featured_media":1465,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-70999","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nMCX shares hit 52-week high following approval for new web-based platform | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. 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