The Multi Commodity Exchange of India (MCX) on April 16, 2026, has invited Expressions of Interest (EOI) from eligible participants to continue the Liquidity Enhancement Scheme (LES) for Electricity Futures, in line with guidelines issued by Securities and Exchange Board of India. The LES, originally introduced with the launch of MCX Electricity Futures on July 10, 2025, aims to improve market liquidity and trading efficiency.
MCX has outlined eligibility criteria for market makers, including a minimum of 3 years’ experience in relevant markets, net worth of at least ₹5 crore, adequate manpower and technological capabilities, compliance with regulatory requirements, and no recent disciplinary actions. Applicants must also demonstrate their ability to meet quoting obligations through technical testing. Eligible candidates will be evaluated and selected based on competitive bidding, with provisions to resolve tie situations.
The exchange may appoint one or more market makers for near, second, and third month contracts, and can empanel additional participants during the scheme period. Selected market makers will be required to provide continuous two-way quotes, especially for near-month contracts and during expiry periods. MCX also reserves the right to review performance parameters and expand the pool of market makers to ensure effective functioning of the scheme.
[Circular no. MCX/PMT/204/ 2026]
