The exchange has recently switched to a new trading software developed by Tata Consultancy Services. (file photo)
| Photo Credit:
KSL
MCX, the country’s largest commodity derivatives exchange, experienced a trading delay of nearly 4.5 hours on Tuesday due to a technical glitch. The exchange has initiated an investigation to ascertain the reason for the technical glitch and ensure that it does not occur again.
Initially, the exchange said it would start trading from its Disaster Recovery site at 9:30 a.m. instead of 9:00 a.m., but operations did not restart until 1:25 p.m.
The exchange has recently switched to a new trading software developed by Tata Consultancy Services.
“Due to a technical issue at the Exchange, the commencement of trading on Tuesday was delayed. Operations were shifted to the Disaster Recovery (DR) site, and trading started at 1.25 pm and all trading systems are now functioning normally,” said the exchange later.
An investigation into the issue has been initiated on priority. “We are committed to identifying the cause and implementing necessary corrective measures. Updates on our findings and actions taken will be shared in due course,” it said.
Mrugank Paranjpe, Chairperson of the IMC Task Force on Capital Markets, said the four-hour shutdown of MCX for the second time in a short period raises serious questions on the stability of the commodity markets infrastructure.
While continuous availability of trading platforms is mandatory, any issues on a volatile expiry day raise more questions, he added.
“It is now incumbent on SEBI to reassess and strengthen the continuity and resilience framework for market infrastructure institutions. A DR site only provides infrastructure backup. Software systems and processes must be robust enough to withstand disruptions, too,” he said.
Repeated glitches
In July, a similar technical glitch at MCX had delayed market opening and trading commenced more than an hour later. In February last year, MCX faced a major glitch that led to the suspension of trading for four hours.
Shares of MCX ended 2 per cent lower at ₹9,117 on Tuesday. It opened on a positive note at ₹9,360 and touched a low of ₹9,071 intraday.
Published on October 28, 2025