MCX will launch web based commodity derivatives platform: Approval received from SEBI, CPD was to be launched on October 3

Multi-Commodity Exchange (MCX) has been approved by market regulator SEBI to launch a web-based commodity derivatives platform (CPD). This approval has been given by the Technical Advisory Committee of SEBI. MCX has given information about this today i.e. on 8th October.

MCX said in an exchange filing, ‘SEBI Technical Advisory Committee has recommended that MCX and MCXCCL can go live with CDP. You can inform SEBI about its proposed date.

Earlier on September 29, SEBI had asked MCX to postpone for some time the proposal to launch the commodity derivatives platform. Now SEBI has withdrawn its order and has asked MCX to propose to make the new platform CDP live.

CPD was scheduled to be launched on October 3

MCX had said earlier this week that our commodity derivatives platform will go live on October 3. At that time, MCX had said in its exchange filing that SEBI would discuss about this platform in the technical advisory committee meeting to be held soon.

What is MCX?

Like Bombay Stock Exchange (BSE) and National Stock Exchange (NSE), MCX is also a stock exchange. In this, agriculture related goods, environmental goods, gold, silver and metal and other products are traded.