As top commodity exchange MCX races against time to move its trading technology from erstwhile promoter 63 Moons, regulator Sebi is keeping a close vigil on mock trading sessions and the transition process.
In the meantime, the matter has reached Madras High Court with an investors group seeking a detailed probe by Sebi (Securities and Exchange Board of India) into the exchange with regard to the “integrity and competence of the market software technology” to be adopted by MCX.
While Sebi has sought for weeks’ time to file a counter affidavit, the court on December 8 also issued notices to MCX, MCX Clearing Corporation as well as their CEOs and Chief Technology Officers.
On condition of anonymity due to the matter being sub-judice and under regulatory scanner, top officials said some mock trading sessions have serious issues, but MCX did not reply to queries from PTI in this regard.
Top officials further said the regulator is closely watching the results of every mock trading sessi
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