The Securities and Exchange Board of India (SEBI) has given the green light to the Multi Commodity Exchange of India (MCX) to launch its Commodity Derivatives Platform (CDP), according to a company announcement on Sunday.
What Happened? Previously, SEBI had instructed MCX and its clearing corporation, MCXCCL, to postpone the CDP’s launch, originally set for October 3. This delay stemmed from technical concerns that SEBI’s Technical Advisory Committee wanted to discuss.
Last month, MCX revealed that SEBI had sought detailed feedback on issues highlighted by Chennai Financial Markets and Accountability about the CDP. While waiting for SEBI’s approval, MCX carried on with mock tests of the CDP.
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After a thorough review, MCX and MCXCCL responded to the concerns raised by Chennai Financial Markets and Accountability. Following this, SEBI’s Technical Advisory Committee suggested that MCX and MCXCCL should proceed with the CDP launch and inform SEBI about the planned launch date.
Price Action: MCX shares were trading 2.29% higher at ₹2,086.40 at market open on Monday. The stock has moved up 4.55% over the past 5 days alone.
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