On September 28, MCX had announced that it would go live with new Commodity Derivatives Platform with effect from 03 October 2023.

In a regulatory filing made after market hours yesterday, the exchange stated that SEBI has forwarded a copy of the letter to the exchange from Chennai Financial Markets and Accountability (CFMA) regarding CDP. It may be noted that writ petitions filed by CFMA on CDP is pending before the Hon'ble Madras High Court for disposal.

As the exchange is ready and keen to go-live as soon as permitted, the exchange will continue to conduct CDP mock tests pending further directions in the matter from SEBI.

MCX is India's first listed, national-level, electronic exchange, and India's leading commodity derivatives exchange with a market share of about 96.7% in terms of the value of commodity futures contracts traded in financial year 2022-23. Various commodities across segments are traded on the Exchange platform, which include bullion, energy, metals and agri commodities.

The exchange and data platform's consolidated net profit tumbled 52.6% to Rs 19.66 crore in Q1 FY24 as compared with Rs 41.46 crore in Q1 FY23. However, total income jumped 40.8% to Rs 166.21 crore in Q1 FY24 as compared with Rs 118.05 crore in corresponding quarter last year.