News

According to Zee Business sources, The Chairman and Managing Director of Multi Commodity Exchange (MCX) are expected to meet Securities and Exchange Board of India (SEBI) Chairman Tuhin Kanta Pandey on Friday to discuss the trading halt that occurred on October 28 due to technical issues.

The meeting is likely to focus on the technical glitch that brought MCX trading to a standstill for nearly four and a half hours, disrupting commodity transactions across the exchange. The management is expected to brief the SEBI chief about the root cause of the disruption, steps taken to prevent a recurrence, and the exchange’s system upgrade plans.

Sources further said the MCX leadership might also seek relief from the penalty imposed following the outage, citing that the disruption was a result of unforeseen technical faults.

Trading on MCX was halted for over four hours on October 28 after a technical failure affected order matching and data feeds. The incident prompted SEBI to demand a detailed report and corrective measures from the exchange operator.

The meeting between MCX officials and SEBI is seen as crucial for restoring market confidence and ensuring more stable operations on India’s largest commodity derivatives platform.

Senior Sub-editor at Zee Business English

shweta.shukla@India.com

Shweta Birendra Shukla is a journalist covering the stock market and corporate aff