MCX

A recent trading disruption at the Multi Commodity Exchange (MCX) has drawn sharp criticism from the Securities and Exchange Board of India (SEBI), with Chairperson Madhabi Puri Buch expressing strong displeasure over the incident. The outage, which halted trading activity for several hours, raised concerns about operational resilience and the robustness of the exchange’s technological infrastructure. SEBI has directed MCX to provide a comprehensive explanation and ensure stronger contingency protocols.

Gold prices in India witnessed a notable uptick on Friday, with futures for August delivery climbing by Rs 754 to settle at Rs 98,575 per 10 grams on the Multi Commodity Exchange (MCX). The rise, amounting to a 0.76% increase, was driven primarily by robust domestic demand and the creation of fresh speculative positions. This local momentum contrasted with international markets, where gold futures in New York dipped 0.72% to USD 3,346.58 per ounce.

The Securities and Exchange Board of India (SEBI) levied a penalty of Rs 25 lakh on Multi Commodity Exchange of India (MCX) for failing to timely disclose substantial payments totaling Rs 222 crore to 63 Moons Technologies for software services. These payments, spanning three quarters from October 2022 to June 2023, significantly exceeded MCX’s annual profit in FY 2021-22, rendering them material financial information.