MCX Receives Sebi Approval To Launch New Commodity Derivatives Platform; Check Details

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The Multi Commodity Exchange of India (MCX) on Sunday said it has received approval from markets regulator Sebi to launch its web-based commodity derivatives platform (CDP), put on hold last month.

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“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,” MCX said in a regulatory filing.

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In late September, the Securities and Exchange Board of India (Sebi) asked the MCX to drop its plans to launch a new commodity derivatives platform. The markets regulator stopped the MCX from launching its commodity derivatives platform after investor group Chennai Financial Markets and Accountability urged the regulator to intervene and ensure that MCX has the requisite technical support to go ahead with its plan.

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After looking into the issue, SBI’s technical advisory committee has recommended that MCX can launch the commodity derivatives platform, MCX said in the statement.