MCX, NCDEX curtail trading hours from March 30 to April 14

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SME Times News Bureau | 26 Mar, 2020
Commodity bourses Multi Commodity Exchange (MCX) and the National Commodity & Derivatives Exchange (NCDEX) on Thursday announced that they would reduce their trading hours starting March 30 till April 14 in view of the nationwide COVID-19 lockdown.

As per the revised timings, trading would end at 5 p.m. in both the key exchanges. It would start at the usual time 9 a.m. Currently, trading hours for commodity exchanges ranges from 9 a.m. to 11.30 p.m.

"In view of the novel Covid-19 virus pandemic outbreak and the nationwide lockdown of 21 days in the country and pursuant to discussions with SEBI, it has been decided to revise trading timings, from Monday, March 30, 2020 to Tuesday, April 14, 2020," MCX said in a circular.

The pre-open session for cancellation of orders will commence 15 minutes prior to trade start time and there will be no evening trade session available on April 2, 6 and 14, MCX said, adding that there will be no change in the staggered delivery tender period for any commodity.

Similarly, NCDEX in its circular said that pre-open session shall start at 8.45 a.m. and client code modifications will be allowed from 9 a.m. to 5.15 p.m.

"Members and clients are requested to further note that if there is any extension of revised trading timings beyond April 14, 2020, then the same will be informed through a separate circular," it said.

The 21-day lockdown announced by Prime Minister Narendra Modi on Tuesday to contain the spread of the coronavirus infection will end on April 14.