Chidambaram said NSEL was not a registered or recognised association under the FMC but got exemption even before it started its business.
Slew of resignations at NSEL over past month in the wake of scrutiny; MCX gaps caused by new-age norms for commexes.
The exchange also asked traders to square off their trading positions in three contracts -- gold February 2015, kapas March 2015 and kapas April 2015.
Only time will tell, if the 'Shah' of exchanges will walk out of this battlefield unscathed.
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In most developed markets, there are reporting agencies for spot markets and generally deals took place on the over-the-counter market.
The lone surviving Boston bombings suspect Dzhokhar Tsarnaev, who was injured in a deadly shootout with police here last week, was on Friday transferred from a hospital to a prison medical centre in Massachusetts.
The Forward Market Commission's steely resolve to curb speculation in various agri items like guar futures and the MCX becoming the country's first commodity exchange to be listed were some of the positives during the year.
In another round of big-ticket reforms, the Union Cabinet will consider tomorrow raising the FDI cap in insurance sector to 49 per cent and opening the pension sector to foreign investment besides creation of a National Investment Board.
The rise was on account of robust volumes in gold, silver and energy.
MCX said it has no exposure to crisis-hit NSEL, which has to settle dues worth Rs 5,600 crore to investors after it suspended trading.
Investigation to be over by weekend, Mumbai police EOW to lodge FIR thereafter.
Threadbare discussion & political consensus is required over the Bill: Railway Minister.
The finance ministry and several agencies under it such as the Securities and Exchange Board of India (Sebi) and the Enforcement Directorate (ED), which are investigating the affairs of Sahara India Parivar, are worried about its exposure to National Spot Exchange Ltd (NSEL) products.
A fire broke out on Wednesday at the Central Warehousing Corporation godown in Navi Mumbai, officials said.
In his capacity as an member of Parliament from South Mumbai, Minister of State for Telecom and Shipping Milind Deora today wrote to Prime Minister Manmohan Singh and sought his intervention to resolve the settlement crisis facing the National Spot Exchange Ltd.
Regulator has asked National Multi-Commodity Exchange to file criminal case against Kailash Gupta.
To the disappointment of the Forward Markets Commission, the commodity markets regulator, the standing committee of Parliament examining the Bill seeking to amend the Forward Contracts (Regulation) Act, 1952, has invited suggestions from the public and stakeholders, including consumer bodies.
A parallel system of futures trading in commodities, operating outside recognised commodity exchanges, better known by its colloquial epithet Dabba, has been thriving unchecked and is believed to be now generating bigger trading volumes than the regular exchanges.
Commodity market regulator Forward Markets Commission has banned futures trading in electricity owing to poor volumes of trade.
Turnover stood at Rs. 73.50 lakh crore in the year-ago period, the commodity markets regulator FMC said.
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Sebi keen to attract larger number of retail investors
Four persons privy to the discussions told Business Standard that the deal is close to finalisation, and that regulator Forward Markets Commission (FMC) had been kept in the loop. Indiabulls holds 40 per cent stake in the exchange, which started operations less than a year ago.
As India moves towards a multi-sector regulatory regime, drawing lines within the regulatory framework and demarcating areas is of paramount importance.
The second-longest serving chairman introduced quite a few measures for the primary market and implemented a new corporate governance framework.
The turnover of 23 commodity exchanges rose by 57 per cent to Rs 11837.26 billion (Rs 11,83,726 crore) till May 15 of the 2010-11 fiscal as against Rs 7525.18 billion (Rs 7,52,518 crore) in the same period last year.
The move will allow regional bourses to demutualise and go national. Currently, there are three national and 19 regional commodity exchanges in India. FMC is likely to finalise the norms for demutualisation and upgrade of regional exchanges in the next fortnight. The regulator may grant the regional exchanges a period of 3-5 years to raise their networth to Rs 100 crore.
After National Spot Exchange Ltd (NSEL) this week suspended trading in forward contracts, the Forward Markets Commission (FMC), the commodities market regulator, on Friday sought to allay fears over the exchange defaulting on open contracts.
Soon, traders in India could play in the global agri futures market. India's commodity exchanges have asked the market regulator, Forward Market Commission, to permit evening trading in internationally linked agri commodities.
India's apex Forward Markets Commission says physical delivery is essential for the transparent functioning of the commodity exchanges.
In an effort to make awareness among farmers about the benefits of Futures trade in commodities, NCDEX and Forward Market Commission jointly organised an awareness programme here recently.
Commodity market regulator Forward Markets Commission signed the MoU with China Securities Regulatory Commission. The agreement provides a framework for cooperation between the two authorities, an FMC official said.
The newly appointed chairman of the Forward Markets Commission says futures market is in for a healthy growth in India and existing powers of the apex commodities regulator can be effectively used to regulate commodity markets.
Life insurers have decided to pass on service tax to customers. The chief financial officers of life insurance companies met last Wednesday and have decided to pass on the service tax burden to customers, confirmed officials of various life insurance companies.
Soon, a new cotton future contract will be launched by the Mumbai-based Cotton Association of India.
Soon, farmers in India will be equipped to check out the futures prices of commodities in their villages.
India's apex commodities regulator - the Forward Markets Commission - is a hub of activity these days. The Bill amending the Forward Contracts Regulation Act is pending before the Parliament.
Gupta lost his final bid to avoid reporting to jail after the US Supreme Court last week denied his application to remain free on bail while his insider trading case is reheard.
Bharti Airtel will introduce Fixed Mobile Convergence service by the end of the year.
The launch will lower phone bills and enable customers to use a single phone with a common number for mobile and fixed-line calls.
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.
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