MCX Exchange Faces Technical Glitch – Possible Opening Delayed until 1 pm.

MCX Exchange Faces Technical Glitch : Technical difficulties persist at the Multi Commodity Exchange (MCX), causing a delay in the opening of trading as per the regular schedule at 9 am today. The exchange has been grappling with a technical glitch, preventing the commencement of trading as planned.

Despite initial expectations that the issue would be resolved promptly, subsequent updates have revised the anticipated opening time. Initially, the exchange aimed to resume trading at 10 am after resolving the technical glitch, but this timeframe was later extended to 11 am. The most recent information suggests that the MCX may now open at 1 am.

MCX has officially communicated the challenges it is facing, attributing the trading halt to technical issues on the commodity derivatives platform. The exchange is actively engaged in discussions with its vendor, TSS, in an effort to address and resolve the matter promptly.

Providing an update to CNBC-TV18, MCX stated on Tuesday morning, “We are facing some technical problems, and the team is working to fix it.”

The current technical disruptions add to the challenges faced by MCX, as highlighted in its third-quarter results for the financial year 2024. The company, listed on both NSE and BSE, reported a shift from profit to loss on a year-on-year basis for the December quarter. In the same period of the previous fiscal year, MCX had recorded a profit of ₹39 crore. However, the company reported a loss of ₹5.3 crore in the third quarter of the current financial year.

Despite the quarterly loss, MCX witnessed a 33% increase in annual income, rising from ₹143.6 crore to ₹191.5 crore. Notably, the company’s EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) reflected a loss of ₹19.8 crore, contrasting with the EBITDA profit of ₹32.6 crore reported in the corresponding quarter of the previous fiscal year.

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