Last updated: Oct 09, 2023 11:00 IST
MCX stock price: The shares of Multi Commodity Exchange of India Ltd. rose 5 percent after the Securities and Exchange Board of India cleared the company to go live with its proposed commodity derivatives platform.
“SEBI has withdrawn its instructions to MCX and MCXCCL to keep the proposed go-live of CDP in abeyance,” an exchange filing said.
MCX shares rose as much as 4.90 percent to a high of Rs 2,139.00 apiece on the BSE.
After several delays, the country’s largest commodity exchange MCX on Sunday received approval from SEBI’s technical advisory committee to go live with its commodity derivatives 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 referred the matter to SEBI’s Technical Advisory Committee for discussion.
However, SEBI’s technical panel gave a green signal for the launch of CDP.
“The Technical Advisory Committee of SEBI has recommended MCX and MCXCCL to go live along with the CDP and to inform SEBI about the proposed date for Go Live. Accordingly, SEBI has withdrawn its instructions to MCX and MCXCCL to keep the proposed Go-Live of CDP in abeyance,” MCX said in its press release.
The decision was taken after MCX and MCXCCL filed their replies to the issues raised by Chennai Financial Markets and Accountability on CDP.
MCX’s share price has risen 16 percent in one month and more than 35 percent so far this year.
