MCX share price rallies 5% on Sebi nod to launch new commodity derivatives platform
₹2,139.00 apiece on the BSE. MCX stock price is tad below its 52-week high of ₹2,139.95 hit on September 29, 2023. After several delays, the largest commodity bourse in the country, MCX, on Sunday, received approval of the SEBI Technical advisory committee to go live with its commodity derivative platform (CDP).
Earlier, the Securities and Exchange Board of India (SEBI) had advised MCX to postpone the proposed go-live of CDP citing technical issues, and had sent the matter for discussion with SEBI Technical Advisory Committee. Read here: MCX receives SEBI approval to launch new Commodity Derivatives Platform However, SEBI's tech panel gave green signal for the launch of CDP. (Exciting news! Mint is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest financial insights! Click here!) “SEBI Technical Advisory Committee has recommended that MCX and MCXCCL may Go-Live with the CDP and to intimate SEBI regarding the proposed date for Go Live.
Accordingly, SEBI has withdrawn its directions to MCX and MCXCCL to keep the proposed Go-Live of CDP in abeyance," said MCX in its press release. The decision was taken after MCX and MCXCCL submitted their replies on the issues raised by Chennai Financial Markets and Accountability on CDP. MCX share price has gained 16% in one month and over 35% this year so far.
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