The decision was taken after MCX and MCXCCL submitted their replies on the issues raised by Chennai Financial Markets and Accountability on CDP
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MCX Share Price: Shares of Multi Commodity Exchange of India Ltd. advanced 5 per cent after the Securities and Exchange Board of India allowed it to go live with its proposed commodity derivatives platform.
“SEBI has withdrawn its directions to MCX and MCXCCL to keep the proposed go-live of CDP in abeyance,” according to an exchange filing.
MCX shares jumped as much 4.90 per cent to a high of Rs 2,139.00 apiece on the BSE.
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.
However, SEBI’s tech panel gave green signal for the launch of CDP.
“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 Accordingly, SEBI has withdrawn its directions to MCX and MCXCCL to keep the proposed Go-Live of CDP in abeyance,” said MCX in its press release.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.
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MCX share price has gained 16 per cent in one month and over 35 per cent this year so far.
