SEBI Chief Tuhin Kanta Pandey speaks on MCX glitch; here’s what he said

The Securities and Exchange Board of India (SEBI) has taken a tough stance on the recent technical snag that disrupted trading activity on the Multi Commodity Exchange (MCX). Commenting on the issue, the SEBI Chief said that the regulator is “looking into the MCX trading glitch” and a root-cause analysis is already in progress, stressing that such lapses “should not be happening in a market of this importance.”

The incident took place on October 28, 2025, when a system fault delayed market opening for more than four hours. MCX had to switch to its Disaster Recovery (DR) site to restore normal operations. Trading, which was initially scheduled to begin at 9 am, was repeatedly pushed back through the morning — first to 9:30, then 10, 10:30, 11:49 and finally 12:35 pm. A short special session was held at 1:20 pm before normal trading resumed at 1:25 pm.

The disruption halted trade in major commodities such as gold, silver, crude oil, copper, zinc, and aluminium. Market participants called it one of the most significant technical interruptions in recent months.

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This was not an isolated issue. Earlier in July 2025, MCX had faced a similar delay of over an hour, and in February 2024, a system outage linked to its new trading platform had resulted in a four-hour suspension.

Meanwhile, the MCX stock showed resilience despite the operational hiccup. By 12:20 pm, the shares were up 1.12 per cent, or Rs 106.90, at Rs 9,420 on the BSE. Over the past decade, the stock has surged nearly 959 per cent, with a 45.7 per cent jump in the last year alone. Year-to-date, the gain stands close to 50 per cent, while the past three months have seen an additional 17.9 per cent rise — a sign that investor sentiment remains intact despite recent setbacks.

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