Multi Commodity Exchange of India Ltd. (MCX) on Thursday said the technical glitch that occurred earlier this week was due to a transmission issue and that the company has taken required steps to prevent a recurrence.
MCX encountered a technical issue with its trading system around 08:10 pm on Monday. In a special session, its members were allowed to cancel their pending orders in the system between 10.15 pm and 10.30 pm. Normal trading resumed at 10.31 pm.
The exchange and its vendors—for software, hardware and the operating system— carried out an analysis of the log records and observed that the incident occurred "due to a low level TCP (transmission control protocol) packet transmission issue", it said in an exchange filing.
TCP enables different computer systems to exchange information over the internet.
MCX said it was working with the vendors and has implemented a solution, which will prevent this issue in the system.
Shares in the company recouped morning losses and were up 0.3 percent at Rs 815.9 at 10:16 IST on the Bombay Stock Exchange.