Behind The MCX Glitch: Tech Trouble, Impacted Brokers And Missed Signals
Trading was halted on MCX this morning due to technical glitches but was restored around 10:15 am.
A series of technical glitches at the Multi Commodity Exchange of India (MCX) over the past few months led to a trading halt that affected its trading members and raised concerns about operational preparedness at one of India’s key commodity bourses.
Trading was halted on MCX this morning due to technical glitches but was restored around 10:15 am.
Highly placed sources told NDTV Profit that settlement files — typically sent to brokers around 8:30 a.m. each morning — had been consistently delayed for weeks. On one occasion, the file sent had some errors as well.
“The issues weren’t new. Members had been facing operational hurdles for at least two to three months,” said a person with direct knowledge of the matter. The exchange was aware and in constant touch with members, the technical snags kept piling up.
In the days leading up to the halt, MCX had been operating from its disaster recovery (DR) site, a backup system typically used during emergencies. On July 21, MCX officially informed trading members that live trading was being conducted from the DR site.
“The Exchange is conducting live trading from DR site. Members are requested to take note,” an MCX alert for trading members dated July 21 noted.
Trading was eventually restored to the main site, which is now operational again. The main system had briefly gone down due to a tech glitch, but the exchange claims the issue stands completely resolved for now. Technical teams are reportedly still working to fine-tune backend systems.
As per the trading members, constant discussions are underway with the exchange in the hopes of quick resolution and all the disruptions were also timely flagged by them. The exchange has 544 registered members and 32,480 Authorised Persons across India as on 31st March 2025.
Despite the restoration, according to two people privy of the issue, traders are not placing major orders due to the uncertainty around the issue.
On the positive side, the issue did not arise due to high volumes received from the recently launched electricity derivatives product, one of the people quoted above mentioned.
