MCX reveals root cause of technical glitch that delayed trading
What's the story
The Multi Commodity Exchange (MCX), India's leading commodity derivative exchange, has identified the root cause of the technical glitch that delayed trading operations on October 28. The issue was related to a predefined parameter limit concerning reference data such as Unique Client Code (UCC) configurations within its systems. These parameter thresholds created constraints that led to the incident during trading hours.
System resilience
Trading systems not affected during the incident
MCX has assured its core trading systems remained unaffected and continued to function normally throughout the event. "Notably, trading systems have not had issues. Exchange systems are well positioned to support market volumes and growth," said MCX in a statement. The exchange also clarified that corrective measures have been implemented to address these constraints and prevent similar issues in the future.
Future plans
MCX committed to ongoing technology upgrades
MCX has also reiterated its commitment to ongoing technology upgrades and infrastructure investments aimed at enhancing performance, scalability, and overall system reliability. "We remain committed to strengthening our operational robustness and will continue investing in cutting-edge technology to enhance performance, reliability, and scalability," the exchange said. This is all part of their plan to meet the evolving needs of their members, participants, and stakeholders.