In a significant development, the Securities and Exchange Board of India (SEBI) has withdrawn its directions to Multi Commodity Exchange of India Ltd (MCX) and MCX Clearing Corporation Ltd (MCXCCL) to keep the proposed Go-Live of the new Commodity Derivative Platform (CDP) in abeyance.
This decision comes after the SEBI Technical Advisory Committee recommended that MCX and MCXCCL may proceed with the CDP. The committee also advised them to intimate SEBI regarding the proposed date for Go Live.
Previously, SEBI had advised to keep in abeyance the proposal to Go-live with the new CDP. This was in response to a complaint by Chennai Financial Markets and Accountability (CFMA) regarding the new CDP. Following due process, replies from MCX and MCXCCL on the CFMA complaint were submitted to SEBI.
Further information about this development will be available on the official website of MCX.
