National Commodity and Derivatives Exchange plans to submit a report to Forward Markets Commission in a couple of days on the technical glitch that led to suspension in trading on Monday for two hours.
The commodity market regulator has asked the exchange to submit a detailed report on the disruption of trading, FMC Chairman, Mr Ramesh Abhishek told Business Line on Monday. Trading on the multi-commodity exchange was halted at 11.20 am. Operations resumed at 1.05 pm with a pre-opening session followed by opening session at 1.20 pm.
NCDEX was launching the new version of trading system, TradeX, today. It had conducted a mock session on Sunday.
“We had issued a circular to this effect on December 14 about the new version of TradeX and said we would conduct a mock session on Sunday. The mock session went off well and so we decided to launch it today,” said Mr Ananda Kumar, Chief – Corporate Services.
The circular had said that once mock trading was completed successfully the new version of TradeX will become compulsory for all members using TradeX from Monday.
“Today trading on NCDEX commenced at the usual time but soon we started getting calls from members that they could not trade,” Mr Ananda Kumar said.
NCDEX decided to suspend trading to facilitate all traders to join in the new system.
“There was no problem in pay-in and pay-out,” he said.