MCX asks software vendor to enable negative price trading after broker ire

Exchange says cannot ascertain the date by which this would be achieved at this point in time

Following the controversy over settling the April crude oil contract in the negative territory,  India’s largest commodity derivatives exchange — the Multi Commodity Exchange (MCX) — has decided to enable its software for negative price trading, following the footsteps of the New York Mercantile Exchange (Nymex). The MCX earlier this week had restored all trading in non-agri commodities until 11.30 pm.

Talks are on with  63 Moons Technologies for upgrading the software, an MCX exchange official said, though the deadline for the upgrade is yet to be decided. Once the software is upgraded, India for the first time may see negative