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Informist, Thursday, Sept. 24, 2026

 

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--SEBI Murty: Examining all reports on MCX's primary data centre shift
--CONTEXT: SEBI whole-time member Murty at post-board meet press conference
--SEBI chair: Every tech glitch on stock exchanges is taken seriously
--SEBI OKs FPI participation in select non-agricultural commodity F&O
--SEBI: FPIs can trade in non-agricultural non-cash settled commodity F&O
--SEBI: FPIs can trade in non-agricultural commodity index F&O
--SEBI chair: Specified commodity F&O gives FPIs more opportunities to trade

 

MUMBAI – The Securities and Exchange Board of India is mindful of various reports coming in on the relocation of Multi Commodity Exchange of India Ltd.'s primary data centre to a location outside its premises, Whole-Time Member K.V.R. Murty said Thursday at a press conference after the market regulator's board meeting. Murty said the information with SEBI was that the exchange wanted to expand on its technology infrastructure because of which it was going to relocate its data centre to a location which would be run on a professional basis.

 

SEBI's position is clarified in its earlier circulars applicable to stock exchanges on this aspect, but the regulator is examining all reports, Murty said. The whole-time member was addressing a reporter's question on the regulator's stance on MCX s shifting its trading engine to a third-party building owned by a US company.

 

To another question on recent glitches at MCX, SEBI Chairman Tuhin Kanta Pandey said every technology glitch at market infrastructure institutions, including stock exchanges and clearing corporations, is taken "very seriously". Pandey said exchanges are at different levels of technology prowess and some did face issues around past suppliers. The SEBI chairman was hinting at the problems MCX had faced prior to the launch of its new trading platform software developed by Tata Consultancy Services Ltd. in 2023.  

 

At Thursday's board meeting, SEBI approved proposals to permit foreign portfolio investors to participate in non-agricultural commodity index derivatives contracts and in non-cash-settled non-agricultural commodity derivatives contracts.

 

FPIs will get more opportunities to trade from these specified commodity derivatives contracts allowance, according to Pandey. The market regulator said in a press release that FPI participation in non-cash-based non-agricultural derivatives contracts on individual commodities would be subject to FPIs exiting their positions before delivery obligations arise.

 

"In this regard, a safeguard mechanism is proposed to ensure that FPIs exit their positions before entering the Tender period, i.e. three days before the expiry of the contract," SEBI said. As an additional safeguard, SEBI will not permit FPIs to increase their positions from the third day before expiry, it said.

 

Further, FPIs will be required to enter into an agreement with the trading or clearing members before being enabled to trade, and such agreement will cover squaring off of FPI positions. It will also cover an arrangement where the residual open positions get devolved upon the trading or clearing member before the beginning of the tender period at the daily settlement price. Such a devolvement would be considered a trade with applicable statutory levies, SEBI said.

 

Thursday, shares of MCX ended at INR 3,427.70 on the National Stock Exchange, up 1.5% from Wednesday's closing price.  End

 

Reported by Rajesh Gajra

Edited by Rajeev Pai

 

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