MUMBAI: The first day of trading on the Multi Commodity Exchange (MCX) with the new software developed by TCS went on smoothly till late evening, except for some initial delay in updating trade related information. As the day’s session progressed – which started at 10:45 am on Monday instead of the regular opening at 9 am – the MCX stock on the BSE rallied 5% to hit a new 52-week high at Rs 2,217 and closed at Rs 2,197.
Earlier this month, MCX had announced that it would move to a new trading engine on October 16, that was developed by homegrown software major TCS. Till last week, 63 Moons Technologies (formerly Financial Technologies) was the software provider for its trading engine. For MCX, the shift happened about two years after it first announced the change.
Till about 9:30 pm, trading on MCX was mostly smooth, although volumes were lower than on Friday, commodity traders said. 63 Moons stock also hit the 5% upper circuit on the BSE.
Earlier this month, MCX had announced that it would move to a new trading engine on October 16, that was developed by homegrown software major TCS. Till last week, 63 Moons Technologies (formerly Financial Technologies) was the software provider for its trading engine. For MCX, the shift happened about two years after it first announced the change.
Till about 9:30 pm, trading on MCX was mostly smooth, although volumes were lower than on Friday, commodity traders said. 63 Moons stock also hit the 5% upper circuit on the BSE.
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