MCX to shift to new commodity trading platform on October 16: Check mock trading details, password guidelines

MCX further informed that in light of the transition to the platform, it has planned to conduct a mock trading on Sunday, October 15.

MCX has said that during Mock trading session on October 15, 2023, members can login with their User IDs available in the mock environment to access the trading system

The MCX (Multi Commodity Exchange of India Ltd) announced on Tuesday that it will go live with the new Commodity Derivatives Platform from Monday, October 16. The implementation had earlier been put on hold by the capital market regulator Sebi due to "technical issues". MCX further informed that in light of the transition to the platform, it has planned to conduct a mock trading on Sunday, October 15. This will be done in order to allow members to participate, validate setup and connection during the mock trading session for which separate circular would be issued later.

Here is the complete circular issued by MCX underlining the details regarding the procedure, terminal and password guidelines to be followed by traders with respect to the "Implementation of New Commodity Derivative Platform (CDP)"

MCX said that the members are requested to take note of the following —

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A. Trade Work Station & Member Admin Terminal & Functions:

i) Members can login to new front end namely the new Trading work station – MCX Trade Station (MTS), Version 14.0.2.XX, new Member admin terminal - Member Control Station (MCS), version 14.0.2.XX.

ii) The new front end, MTS & MCS set-up will be available on SFTP server (Extranet) from Saturday, October 14, 2023.

iii) Members may please note that all the pending orders (including GTC / GTD orders) at the end of trading hours on Friday, October 13, 2023 will be cancelled due to release of the new trading platform.

iv) Members may please note that pending Option Devolvement Intimations for CRUDEOIL OPTION 17OCT2023 contract will not be carried forward to the new trading platform and members may enter the intimation afresh in the new trading platform.

v) Members may please note that Option Devolvement Intimation can be provided on the expiry date of the Options contract effective from Monday, October 16, 2023.

vi) Members may please note that facilities like Multi-MAT, LTP based spread, Spread IOC and Combination orders (2L/ 3L) will not be available till further notice for trading.

vii) Members are requested to take note that any request for change in IP address will be effective from next trading day.

viii) Following facilities will now not be available on member admin —

a) User Update Setting will now not be available and if Members require any modification they have to send request to the Exchange.

b) Product basket disallow and Turnover limit functionality at user level.

c) Net position, Margin limit and utilisation related functions, Institutional Trades and its approval feature would now be available through BaNCS application.

B. New Trading Interfaces (CTCL):

i) CTCL software developed using new trading interface – MCX Enhanced Trading Interface (ETI) API version 1.3 dated 25th April, 2023 and FIX API version 1.2 dated June 21, 2022, will be effective from October 16, 2023.

ii) Members using CTCL vendor software are requested to contact their respective vendors for updating their software as per above API.

iii) Members are requested to take note that CTCL file upload facility will not be available while Creation/ Modification of dealer details.

iv) New Trading Market Data Interfaces (APIs) - MCX Market Data Interface (MDI) and MCX Enhanced Market Data Interface (EMDI) – v1.5 and New Tick-by-Tick Trading Market Data Interface (API) –MCX Enhanced Order Book Interface (EOBI) - Version 1.2, will be effective from October 16, 2023.

v) For network connectivity, Member should refer New Trading Interface – Connectivity details (DC & DR) circular no: MCX/TECH/678/2022 dated November 28, 2022.

C. Password Guideline:

1) During Mock trading session which is scheduled on October 15, 2023, members are requested to login with their User IDs available in the mock environment to access the trading system. Further, User IDs password set during these mock trading sessions will be carried in the new system once the system goes live.

2) The password policy is as follows —
a) Passwords should be a minimum of 8 characters.
b) Passwords should be a maximum of 12 characters.
d) Passwords should contain both Upper Case and Lower-Case characters (e.g.: a-z, AZ)
e) The password should include digits and special characters (e.g.: 0-9, !@#$%^&*()_+|~-=\`{}[]:";'<>?,./)
f) Password history is minimum 6 passwords, hence you cannot set new password which is used in last 6 times.

3)Default password
a) During the first login in Mock, Users (including MCS & MTS) need to enter password as Mcx@2208 and upon successful login system will immediately ask for password change, which can be set as per user choice as per password guideline.

b) If new user is created or password is reset, then default password will be set as Mcx@ddmm on that given date. For example, if password for user id 1234 is reset on October 11, 2023, then default password would be Mcx@1110.

c) Member can reset MTS terminal password through MCS application.

D. Back Office System:

i) MCX has advised members to use the back-office software duly tested for changes in new trading platform. And added that the new trading interface supported-File format Version- 1.2, that was informed as per Circular no. MCX/TECH/394/2023 dated June 19, 2023, shall be effective from October 16, 2023.

ii) A new web portal (eClear) interface https://eclear.mcxccl.com/Bancs/ will also be made live as part of the New Commodity Derivative Platform implementation.

iii) Members connecting to eClear portal are required to use RSA SecureID as a multi-factor authentication, please refer, MCXCCL Circular no. MCXCCL/TECH/145/2023 dated, Jun 07, 2023.

E. SFTP facility:

i) The Exchange would enable two factor authentication for members to login to SFTP (https://sftp.mcxindia.com) for enhancing security control measure from October 16, 2023. The two-factor authentication uses google authenticator for Time-based One Time Password (TOTP). The existing SFTP would be changed to Oldsftp (i.e. https://oldsftp.mcxindia.com) for members to download their historic reports.

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Multi Commodity Exchange (MCX)