Commodity derivatives exchange MCX (Multi Commodity Exchange of India), on Sunday, said Securities and Exchange Board of India (SEBI) granted it approval to launch its new commodity derivatives platform (CDP).
MCX had earlier said the platform, developed by TCS, would be launched on October 3.
The market regulator had asked MCX to postpone its plans to go live with CDP. The web-based CPD had faced several delays, with the latest hiccup being the writ petition by Chennai Financial Markets and Accountability (CFMA) concerning the transition of the platform. The matter is currently before the Madras High Court.
MCX and MCXCCL had already submitted their replies to the concerns raised by CFMA.
In a regulatory filing, MCX said, "...SEBI Technical Advisory Committee has recommended that MCX and MCXCCL may Go-Live with the CDP and to intimate SEBI regarding the proposed date for Go Live."
"Accordingly, SEBI has withdrawn its directions to MCX and MCXCCL to keep the proposed Go-Live of CDP in abeyance."
After Sebi asked MCX to postpone the launch of CDP on September 29, its share saw a steep decline, falling as much as 9 per cent. The stock has been witnessing a recovery in the recent week, rising 5.30 per cent in the last five days.
