Sebi asks MCX to delay launch of Commodity Derivatives Platform

Multi Commodity Exchange of India MCX on Friday said market regulator Sebi has asked it to delay the launch of the Commodity Derivatives Platform CDP, which was planned for the next week.The regulator advised MCX to keep the proposed go-live of CDP in abeyance since the matter involves technical issues and would be discussed in the Securities and Exchange Board of India Sebi Technical Advisory Committee meeting to be held shortly, the exchange said in a regulatory filing.

Multi Commodity Exchange of India (MCX) on Friday said market regulator Sebi has asked it to delay the launch of the Commodity Derivatives Platform (CDP), which was planned for the next week.

The regulator advised MCX to keep the proposed go-live of CDP in abeyance since the matter involves technical issues and would be discussed in the Securities and Exchange Board of India (Sebi) Technical Advisory Committee meeting to be held shortly, the exchange said in a regulatory filing. As the exchange is ready and keen to go live as soon as permitted, it will continue to conduct CDP mock tests pending further directions in the matter from Sebi, it added.

Meanwhile, the regulator has also asked MCX and MCXCCL to furnish detailed comments on the issues raised by Chennai Financial Markets and Accountability on CDP by October 3.

Earlier in the week, MCX said its commodity derivatives platform would go live on October 3. Following the development, shares of MCX slumped nine per cent in intra-day trading. Later, the stock erased some of the initial losses and finally settled 2.43 per cent lower at Rs 2,049.30 on the BSE.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)