The Multi Commodity Exchange of India Ltd (MCX) faced a significant technical disruption on July 23, halting commodity trading for over an hour shortly after market open. The glitch, attributed to delays in backend file processing and database transmission, impacted order acceptance across brokers.
Key Developments
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- Trading was suspended around 9:05 AM and resumed at 10:15 AM after internal assessments and file-sharing issues were resolved.
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- MCX activated real-time monitoring protocols and initiated a full-scale technical assessment to prevent future outages.
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- Brokerage firms flagged missing margin files on MCX’s SFTP server, which delayed billing and triggered connectivity issues.
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- Despite the disruption, trading volumes and platform stability returned to normal by mid-morning.
Market Impact
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- MCX shares remained largely stable, trading slightly higher post-recovery.
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- The exchange confirmed that its systems are now functioning normally, with no residual impact on clearing or settlement.
Sources: LiveMint, CNBC-TV18, Business Standard, Financial Express, Indian Express.