MUMBAI: The first day of trade on the Multi Commodity Exchange (MCX) with the new software developed by TCS ran smoothly until late evening, apart from some initial delay in updating trade related information. As the day’s session progressed – which started at 10:45 am on Monday instead of its regular opening at 9:00 am – MCX stock on the BSE rose 5% to hit a fresh 52-week high at Rs 2,217 and closed at Rs 2,197.
Earlier this month, MCX had announced that it would be switching to a new trading engine developed by homegrown software giant TCS on October 16. Until last week, 63 Moons Technologies (formerly Financial Technologies) was the software provider for its trading engine. For MCX, the shift happened about two years after it first announced the change.
Until about 9:30 p.m., trading on MCX was largely smooth, although volumes were lower than on Friday, commodity traders said. 63 Moons shares also touched the upper circuit of 5% on the BSE.
Earlier this month, MCX had announced that it would be switching to a new trading engine developed by homegrown software giant TCS on October 16. Until last week, 63 Moons Technologies (formerly Financial Technologies) was the software provider for its trading engine. For MCX, the shift happened about two years after it first announced the change.
Until about 9:30 p.m., trading on MCX was largely smooth, although volumes were lower than on Friday, commodity traders said. 63 Moons shares also touched the upper circuit of 5% on the BSE.
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