India's leading agriculture commodity exchange, the National Commodity & Derivatives Exchange (NCDEX), has decided to acquire around a 20 per cent stake in a new commodities and financial derivatives exchange being set up in Sri Lanka, subject to regulatory and governmental approvals. The move aims to deepen NCDEX's footprint in the financial ecosystem of its neighbouring country.
'Market momentum and investor interest are at unprecedented levels, making this the opportune moment.'
India's leading commodity exchange, National Commodity and Derivatives Exchange (NCDEX), and private weather forecasting company Skymet took a significant step towards launching the country's first tradeable weather index on Monday (August 14) by entering into an agreement to deepen their understanding of the impact that weather has on agricultural commodities. The memorandum of understanding (MoU) between NCDEX and Skymet is a profound step in the direction of linking farmers with the weather in a scientific way, according to an official statement. Sources indicate that NCDEX and Skymet will conduct workshops and seminars across the country to educate farmers about how they can scientifically use weather forecasts to hedge risks.
After a gap of more than 13 years, the National Commodity and Derivatives Exchange (NCDEX) is all set to launch a futures contract in groundnut (in shell) to fill a void in oilseeds complex futures because of a ban in several high-volume commodities.
The higher margins imposed on pepper in the wake of volatiluity in the commodity's prices by the Forward Markets Commission is likely to reduced soon.
Karvy group's commodity broking arm, too, is facing a liquidity crisis because of some issues related to NCDEX, said people in the know.
In Indian context, among top gainers on the spot National Commodity and Derivatives Exchange, is coriander that saw its price moving up nearly 38 per cent (year-to-date, or YTD).
Financial substitutes for gold are key to addressing the pressure from large imports.
With satisfactory progress of monsoon rainfalls prompting farmers to bring in additional area under basmati sowing, prices are set to fall lower going forward.
DIPP's proposal is believed to have the support of the ministry of consumer affairs, food and public distribution and was originally mooted by the Forward Markets Commission.
The Kotak group is set to launch the country's fifth national commodity exchange, in association with the Ahmedabad Commodity Exchange (ACE), in which it is picking up a majority equity stake as an anchor investor.
The Bombay Stock Exchange and Foreign Exchange market will remain closed today due to a terrorist attack in Mumbai.
The Reserve Bank has asked banks to encourage borrowers to hedge agri-products on commodity bourses.
In a memorandum to the Finance Minister, the exchanges said that FM's proposal to impose the Commodities Transaction Tax (CTT) will ruin the budding commodity futures business in India. In its arguments, it said CDM is at a nascent stage. It is only 4 years old. Participation of banks, mutual funds, FIs, FIIs is still not allowed. Options contracts, index futures & futures based on intangibles are still to come. Cost increase in India will induce hedgers to global exchanges.
These contracts will expire on the last trading day of the month prior to the expiry of international bullion futures contract, be settled on expiry at import parity costing, delivery logic based on intention matching and rupee value contracts for importers and traders.
In its order that rejected a proposal by NCDEX to slash the transaction charges in its evening session of trade, FMC said the exchange's settlement guarantee fund has fallen to meagre Rs.5.05 lakh at the end of calendar year 2008. Performance audit done by the auditors at the behest of FMC shows that the exchange also earned an interest of Rs.24.87 crore on this fund during March 2004 to March 2006.
In a significant development, India's National Commodity & Derivatives Exchange Limited on Thursday launched its futures contract for Certified Emission Reduction. Forward Markets Commission, chairman, B. C. Khatua inaugurated the launch at NCDEX Exchange Platform. The CER contract of NCDEX will be traded in multiples of one lot of 500 CERs each.
According to the report, benchmark gold ETFs have increased to 2.03 tonnes in May from 1.5 tonnes in the corresponding period last year. Whereas gold ETFs at UTI, Reliance Capital and Kotak remained at 1.32 tonnes, 1.23 tonnes and 0.34 tonnes respectively during May period, it said.
Declining volumes in agriculture commodities are prompting the commodity bourses to aggressively focus on futures trading in bullion, metals and energy products.
India's commodity bourses -- Multi-Commodity Exchange and National Commodity and Derivatives Exchange -- are gearing up to launch futures trading in carbon credits.
According to officials, after launching sugar successful on its electronic platform, NCDEX Spot has decided to go in for more commodities.
The economic turmoil has also hit the demand for luxury goods and hence the demand for jewellery has fallen considerably.
The contract would be quoted in 20-kg lots and have a ticket size of Re 0.10. On the expiry of the contract, Shankar Kapas would be delivered from Rajkot, Kadi, Guntur and Akola.
India's largest agri commodity exchange -- the National Commodities and Derivatives Exchange says is chalking out several projects to connect farmers with online futures trading in commodities.
India's leading agri commodities bourse - the National Commodity and Derivative Exchange - has asked the government to permit banks to hedge at domestic commodity exchanges like international bourses.
India's good old 'mandis' are all set to make way for swanky spot exchanges soon. In two months' time, winds of change will sweep across the country's agricultural sector with the launch of electronic spot exchanges.
Have you heard of an electronic exchange to trade electricity? Soon, online power exchanges will be a reality in India.
Commodity market regulator Forward Markets Commission may not allow futures trading in cement.
India's largest agri commodity bourse - the National Commodities and Derivatives Exchange - plans to launch futures trading in coal soon.
The Union ministry of consumer affairs has given the finishing touches to the policy framework to allow foreign direct investment and foreign institutional investment in India's national commodity exchanges.
India's leading national commodity exchanges have asked the government to immediately lift the ban on futures trading on certain agricultural commodities.
The exchange has formed a new company -- NCDEX Spot Exchange--and senior officials said bullion will be one of the important products in spot market trading.
India's national commodity exchanges will have to now wait longer for the government nod for foreign direct investment.
The Central government's decision to ban futures trading in several commodities has not deterred the firms from going in for a big awareness drive in Punjab, India's wheat bowl.
In an effort to boost commodity trading in the country, the much-awaited amendments to the Forward Contract and Regulations Act of 1952 will happen during the Budget session of the Parliament.
Intercontinental Exchange, which trades in energy derivatives, is in talks to buy ICICI Bank's holding in the National Commodities and Derivative Exchange.
Before entering into buy and sell transactions please be aware of all the factors that go into the mechanism of pricing, trading and clearing.
Manoj Vaish on Saturday took charge as Managing Director and CEO of the country's leading commodity exchange MCX that is under the regulatory glare following troubles at the promoter group.
Experts like National Commodity and Derivatives Exchange Managing Director and CEO P H Ravikumar feel that the commodities market will steal the thunder in the coming days. The next bull run is not in stocks but in commodities, he said.
India's leading agri commodity bourse - the National Commodity and Derivatives Exchange said on Monday that its trading volumes have been hit by the ban on futures trading in pulses, wheat and rice.
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