The Securities and Exchange Board of India (SEBI) has voiced strong disapproval regarding the recent operational failure at the Multi Commodity Exchange (MCX).
The market regulator’s Chief, Tuhin Kanta Pandey, addressed the breakdown that occurred on October 28, which brought trading activities to a standstill. The Chairman stated, “I think the last breakdown happened in July, and it has now occurred again, which isn’t right. Such problems have happened multiple times. However, we can only comment after conducting a proper analysis”.
The MCX acknowledged the incident in an exchange filing, citing a technical issue that caused a delay in the commencement of trading on Tuesday. Operations were subsequently shifted to the Disaster Recovery (DR) site, and trading resumed at 1:25 PM. The exchange assured that all trading systems are now functioning normally and that an investigation has been initiated on priority to identify the cause and implement corrective measures.
SEBI Chairman Pandey confirmed the regulator is closely monitoring the situation, noting that the required analysis “must be submitted within 24 to 48 hours” and that SEBI will “follow the SOP accordingly”. This disruption is not isolated; a similar glitch in July 2025 delayed the market opening by about an hour. Furthermore, a significant breakdown occurred in February 2024 due to issues linked to a new platform, halting operations for over three hours. The regulator’s firm stance underscores the need for MCX to ensure robust and resilient technology infrastructure.
