Mumbai, July 23, 2025 — The Multi Commodity Exchange of India (MCX) faced a serious technical glitch on Wednesday morning, causing a complete trading halt from the market opening session.
The technical failure was identified shortly after the markets were scheduled to open at 9:00 AM IST. As of 12:30 PM IST, trading has not yet resumed, and no official timeline for resolution has been provided.
Initial Impact
According to early reports from brokers and traders, the trading interface failed to load, preventing order placements across all commodity segments. Affected instruments include gold, crude oil, natural gas, silver, and base metals.
The glitch appears to be exchange-wide, impacting all segments simultaneously, a rare occurrence for India’s largest commodity derivatives exchange.
Official Response
MCX issued a brief statement:
“We are currently facing a technical issue, and trading is temporarily paused. Our IT teams are working with the service providers to restore normal operations.”
As of now, no further details have been released regarding the cause of the error or the estimated time of resolution.
Market Reaction
The glitch has sparked concern among traders and brokers, especially during peak trading hours. The absence of market activity has left commodity price movements in suspense, particularly for gold and crude, which were expected to show volatility today due to global economic cues.
Market participants have urged MCX to strengthen its technological infrastructure, citing past instances of intermittent disruptions.
Regulatory Oversight
The Securities and Exchange Board of India (SEBI) is believed to have been notified immediately. If the issue persists or recurs, regulatory scrutiny may intensify.
SEBI had previously urged exchanges to maintain robust disaster recovery and failover systems to prevent such market-wide disruptions.
System Vendors Under Scanner
Sources suggest that the glitch may be linked to a backend integration or server update. The Technology Service Provider (TSP) associated with MCX could come under investigation if it’s proven that the disruption originated from their side.
MCX underwent a technology transition in late 2023, moving to a new trading platform, which had reportedly experienced minor performance issues in the past.
Financial Impact
While the monetary loss from halted trading hasn’t been quantified, market experts estimate potential daily trading volumes exceeding ₹30,000 crore being impacted.
The halt affects not only institutional and retail investors but also hedgers and physical commodity traders, especially during an active trading week.
Industry Reaction
Brokerages including Motilal Oswal, Angel One, and Kotak Securities reported disruptions in their MCX terminals. Several traders expressed concerns about delayed contract settlement and margin obligations due to halted trades.
A leading commodity trader remarked,
“These issues damage market confidence. We need immediate fixes and transparency on what went wrong.”
Recovery Efforts Underway
MCX is currently working with its IT teams and vendors to diagnose and fix the error. A decision on whether the trading session will be extended or a revised schedule issued is still pending.
Market participants are advised to monitor official MCX notifications for the latest updates.
What’s Next?
With trading halted for over three hours, it remains unclear whether MCX will resume operations by the end of the trading day. The possibility of an extended trading window later today is being considered.
This event raises pressing questions about system readiness, redundancy measures, and the need for faster incident response in India’s financial exchanges.
