Advisory Review of existing CTCL Approved Software

Multi Commodity Exchange, vide Circular No. MCX/CTCL/192/2026 dated April 11, 2026, has announced an important update regarding advisory review of existing CTCL approved software.

Key Details of the Update –
• This circular is issued in continuation of Exchange Circular No. MCX/CTCL/223/2025 dated April 30, 2025 and MCX/CTCL/364/2025 dated July 25, 2025, and reiterates the regulatory expectations applicable to software/applications such as CTCL, IBT, WT, DMA, and Algo systems developed in-house or procured from empanelled vendors.
• Members are required to ensure that such trading software applications are tested in the Mock/Simulation environment of the Exchange, wherever applicable, and that Exchange approval is obtained prior to deployment in the production environment.
• The circular further emphasizes that software applications may undergo updates or changes over time, and in such cases, members are required to obtain Exchange approval for the latest versions as well, indicating that approval is not a one-time formality but an ongoing compliance requirement tied to version control and system changes.
• Trading Members are strongly advised to undertake a comprehensive review of all software applications already approved by the Exchange, including CTCL, IBT, WT, DMA, and Algo systems, in order to identify software that is obsolete, not in use, or lacking technical support.
• The operational objective of the advisory is to ensure that the member’s technology setup remains aligned with current business requirements and that only active and necessary systems remain registered with the Exchange, thereby reducing operational risk, unused access points, and outdated technology dependencies.
• Where members intend to deactivate facilities or discontinue software, the circular prescribes a specific process. First, the member must submit a request on the eUIMS portal for deactivation of CTCL / IBT / WT / DMA / Algo facility from the user ID.
• After completion of the deactivation request on the portal, the member must submit Annexure 43, being the Application form for Discontinuation of CTCL / IBT / Wireless Trading (WT) / Algorithmic Trading Facility (ATF) / DMA Software, to the Exchange through the specified email id ctcl@mcxindia.com.
• As seen in Annexure 43 on page 2, the discontinuation form requires key details such as Member ID, registered office/correspondence address, type of software, software name and version number, strategy name and version number for ATF, user ID, name of empanelled vendor or in-house source, and contact and email details of the authorised signatory.
• The form also requires a certification that the CTCL terminal details registered under the mentioned user IDs/software have been deactivated, and that the statements made are true and correct, failing which the member may be exposed to disciplinary action.

Actions if Any –
• Trading Members should conduct a comprehensive review of all Exchange-approved software applications and identify systems that are obsolete, inactive, unsupported, or unnecessary.
• Members should ensure that only active and necessary software systems remain registered with the Exchange.
• For deactivation, members must first submit a request through the eUIMS portal for deactivation of the relevant CTCL / IBT / WT / DMA / Algo facility from the user ID.
• After portal deactivation, members must submit Annexure 43 from Circular No. MCX/CTCL/223/2025 dated April 30, 2025 to ctcl@mcxindia.com.
• Members must continue to ensure that software is tested in the Mock/Simulation environment and that approval for latest versions is obtained from the Exchange before deployment.