63 Moons drops out of talks on tech guide to MCX by admin- Wednesday, September 28th, 2022 07:16:35 AM
The current trading, clearing and agreement platform was developed and supported by 63 Moons PAUL NORONHA PAUL NORONHA manner that MCX will now not be entitled to obtain any help on the Exchange Technology software if the trading or settlement device halts for any motive
sixty three Moons has dropped out of talks with MCX to offer software program and upkeep support after cease of this month.
MCX and sixty three Moons entered into software program guide and maintenance agreement in September 2014 and this would give up this month.
MCX did now not renew the agreement and therefore the right to continue to use the Exchange Technology software program and not using a get admission to to source code to rectify problems or insects which can stand up and might be subject to any regulatory restrict, stated sixty three Moons in a announcement on Monday.
MCX will not be entitled to acquire any support on the Exchange Technology software if the trading or settlement device halts for any cause. No paintings around by way of any man or woman is possible in troubles arising in the Exchange platform and not using a get admission to to source code to MCX, it added.
Talks on new carrier agreement
MCX initiated discussions with sixty three Moons for obtaining IP (highbrow belongings) licence of Exchange Technology for self-use even before the expiry of the service agreement and also initiated discussions for brand new provider agreement after the expiry of present technology carrier agreement, said 63 Moons.
The dialogue with 63 Moons for a brand new agreement started out in October 2020 and the today’s communique from MCX searching for explanation for negotiation was obtained ultimate January and become replied same month, said 63 Moons.
However, MCX floated a public Request for Proposal (RFP) which opened in October 2020 and closed in December 2020.
As sixty three moons become already in dialogue with MCX on new carrier agreement, it’ll be imprudent to cite again by means of way of RFP reaction as each are for the equal set of technology platform. The advertisements and the generation capabilities already recognized to MCX and consequently there has been nothing new to quote in RFP, said 63 Moons.
Hence, it is wrong to say that sixty three Moons did not participate in RFP as discussion on the commercials were going on and nothing new became there to cite in RFP, it stated.