Kotak Group-promoted ACE Derivatives and Commodity Exchange Limited on Wednesday said it has received the final license for launching a national multi commodity exchange from the government.
Regulator has asked National Multi-Commodity Exchange to file criminal case against Kailash Gupta.
Move follows 26 per cent acquisition in Ahmedabad's NMCE.
The Bombay Stock Exchange has called off its plan to acquire 26 per cent in the Ahmedabad-based National Multi Commodity Exchange. The deal was terminated just before the resignation of BSE Managing Director and CEO Rajnikant Patel.
Last week, after months of scrutiny, the Forward Markets Commission, the regulator for futures trading in commodities, approved a proposal from state-owned MMTC Ltd and finance-to-real estate group Indiabulls to set up a national multi-commodity exchange.
Meet Poonam Gupta, vice president, business development, the National Multi Commodity Exchange of India (NMCE), India's leading multi-commodity exchange.
Ginger is the hot and happening commodity now. In fact, the National Multi-Commodity Exchange is mulling expansion of its futures basket and launch of trade in dried ginger and cashew.
If anyone asks who should be named the pioneer of online Futures trading exchanges in commodities, the first name that would prop up will be that of Kailash Gupta.
The National Multi Commodity Exchange is planning to launch turmeric futures of Erode variety soon.
The Bombay Stock Exchange is set to pick up 26 per cent stake in India's first demutualised online multi commodity exchange the National Multi-Commodity Exchange.
The National Multi-Commodity Exchange NMCE on Tuesday launched a new series in Soya oil, Guar seed and Chana desi for futures contracts.
Online futures trading in coffee was launched in Bangalore on Tuesday by the National Multi-Commodity Exchange of India.
The online gold futures trade on the National Multi Commodity Exchange of India will be launched by Union Minister for Consumer Affairs, Food and Public Distribution Sharad Yadav in New Delhi on Friday.
Pepper futures set a new record of Rs 457.09 crore (Rs 4.57 billion) during intra-day trading at the National Multi-Commodity Exchange last week.
Commodity exchanges are all restructuring their boards of directors, after the recently issued guidelines of the Forward Markets Commission.
Commodity futures market's dream run came to a halt in 2013 as a Rs 5,600 crore scam in Jignesh Shah-led spot exchange NSEL and imposition of transaction tax on non-farm items hampered the growth of business, with turnover estimated to dip by 30 per cent to Rs 125 lakh crore.
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