SEBI Asks MCX To Keep Commodity Derivative Platform Launch In ‘Abeyance’

Recently, The Securities Exchange Board of India’s name has come on the internet and it has been making the rounds on the internet. After a new commodity derivative platform has been given an announcement launch by the Multi Commodity Exchange (MCX), capital market controllers Securities and Exchange Board of India (SEBI) has asked MCX to keep the CDP launch in “abeyance”. MCX is one of the famous and first commodity derivatives exchanges simplifying online trading of commodity derivates transactions. In 2003 MCX operated under the purview of the Securities and Exchange Board of India (SEBI). Here we have more information about the news and we will share it with you in this article.

SEBI

As per the report, Multi Commodity Exchange (MCX) has shared the statement in its official communication. On the rationale behind this SEBI’s technical committee will meet super soon and debate the issue. Till then, MCX would resume conducting simulated sessions of the new item derivative platforms.

MCX CDP launch news

If we talk about the development in relation to the CDP launch, MCX stated,” Pursuant to Regulation 30 read with Schedule III of the SBI Regulations, 2015, please be advised that SEBI has to vide email dated 28 September 2023 delivered a copy of the letter dated 27 September 2023 from Chennai Financial Markets and Accountability (CFMA) about CDP. It might be mentioned that writ pleas filed by CFMA on CDP are pending before the Hon’ble Madras High Court for disposal, The Regulator has reported that since the case involves technical matters, the same would be consulted in the SEBI Technical Advisory Committee meeting, which would be held shortly. Scroll down to the next page for more information about the news, so please read the complete article.

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As far as we know, Meantime, SEBI has notified the Exchange to keep the proposed Go Live of CDP in abeyance”. MCX said ” As the Exchange is ready to keen go live as soon as approved, the Exchange will restart to conduct CDP mock tests pending further leaders in the matter from SEBI. Prematurely, MCX announced that it will launch CDP on 3rd October 2023 although the move session of the CDP is going to be conducted on 2nd October 2023. This new commodity derivative platform of MCX has been serviced by Tata Consultancy Services (TCS). the mock session is anticipated to remain smooth. MCX restored its agreement with 63 Moons in June of this year. The revival has come at a quarterly cost of 125 crore, which means 250 crore for the July-December 2023 period. Here we have shared all the information that we had. Stay tuned to us for more updates.

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Gurleen Kaur

I'm a science graduate from the Ahmadu Bello University, Nigeria. My passion for writing has brought me to into the field of content.