At the request of Multi Commodity Exchange of India Limited (MCX), 63 moons technologies on Monday said it has agreed to a fresh arrangement, as per new terms of the engagement for Software Support Services to the exchange for a period of three months from this month.
The Mumbai-based technology major said all existing support and service levels will be offered to benefit trading members which they have enjoyed since the inception of MCX.
63 moons put sincere appreciation for the resolution passed by the MCX Board which stated: “The Board notes with satisfaction, as confirmed by the management, that the trading, clearing, and settlement platform of 63 moons has been stable over many years and has met the requirements of the Exchange and has been ably supported by 63 Moons at all times.”
The software support and maintenance agreement between 63 Moons and MCX, which was last amended on September 27, 2014, ended on September 30, 2022.
“In view of the new arrangement, the trading community can now continue to enjoy seamless trading experience beyond September 30, 2022,” stated 63 moons.
MCX has issued a Purchase Order to 63 moons, formerly known as Financial Technologies, for extending Support and Managed Services for its existing trading and clearing platform for a period of three months, beginning from October 1 to December 31.
Notably, two years back, MCX had issued a contract to Tata Consultancy Services (TCS) to provide the trading technology but failed to get desired results from TCS in the specified timeline.
63 moons technologies mainly provides next-generation technology ventures and solutions for creating digital markets and marketplaces that enable price discovery and transaction efficiencies across industry segments.