The Multi Commodity Exchange of India Limited (MCX) on September 11, 2026, issued a circular regarding procedure and Guidelines for Trade Annulment.
The following has been stated: -
•The Exchange has prescribed a uniform and transparent procedure for trade annulment, in line with SEBI guidelines, emphasizing that annulment should be avoided to ensure finality of trades.
•Requests may be submitted only by the executing Trading Member/Clearing Member within 30 minutes, subject to prescribed minimum trade values and supporting reasons, while errors, negligence, system failures and security breaches generally do not qualify.
•An annulment application fee of 5% of the trade value, subject to a minimum of ₹1 lakh and maximum of ₹10 lakhs, shall be charged irrespective of acceptance or rejection.
•Eligible requests will be referred to the counterparty for consent within 30 minutes, after which the Exchange will consider the request on its merits, including factors such as fraud, material mistake, misrepresentation or market manipulation.
[Circular no.: MCX/S&I/516/2026]
