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.
Reliance Money, India's comprehensive financial services and solutions provider, has tied up with Chicago-based Alaron Trading Corporation, a global, full-service commodity futures brokerage firm.
A derivative is a product whose value is derived from the value of one or more underlying variables or assets in a contractual manner. The underlying asset can be equity, forex, commodity or any other asset.
Among the Sensex firms, UltraTech Cement, JSW Steel, Tata Motors, Bharti Airtel, State Bank of India, Larsen & Toubro, Infosys and Bajaj Finserv were the major gainers. On the other hand, NTPC and Tech Mahindra were the laggards.
The proposed commodity transaction tax of Rs 17 per lakh was part of the Union Budget 2008-09 that was approved by the Parliament in the last session and is yet to be notified. Asked about timeframe of notification, Pawar said, 'first you allow us to discuss and take a final view.'
At a media briefing in Hyderabad, Khatua said the bullion accounted for 42 per cent of commodity trade, and agriculture 23 per cent. He expressed hope that the government would lift the ban on eight commodities -- rubber, chana, soyoil, potato, rice, wheat, tur and urad -- shortly as prices had declined in the recent months. Wheat, for instance, is selling lower than the minimum support price.
Soon, you will see the birth of the hottest commodity futures in the world -- diamond derivatives.
The move comes nearly a month after it acquired five per cent in the National Stock Exchange.
If implemented, it will be the first commodity exchange to offer such a facility.
Gold is the first product for options trading that markets regulator Sebi has allowed after 14 years of commodity exchanges in the country.
The buyer received poor investor response to the pricing of the share sale.
The FMC had warned MCX that it would not renew contracts, allow new contracts and eventually take away the licence to run the bourse if the commodity exchange does not comply with regulatory norms.
The Bombay Stock Exchange and Foreign Exchange market will remain closed today due to a terrorist attack in Mumbai.
Some state-run banks made 10,000-13,000 per cent gains on their holdings in the Multi Commodity Exchange (MCX) after the latter commodity bourse made an impressive listing on Friday.
Besides introducing a penalty for illegal trading, the Forward Markets Commission has announced a uniform penalty structure for all the commodity exchanges, while raising the penalty amount for various other offences.
Seven out of the 10 listed firms of Adani group have received show cause notices from the Securities and Exchange Board of India (Sebi) for alleged violation of related party transactions and non-compliance with listing regulations, the companies said in their regulatory filings to the stock exchanges. While group's flagship Adani Enterprises Ltd, renewable energy firm Adani Green Energy Ltd (AGEL) and city gas distributor Adani Total Gas Ltd said Sebi sent notices of their parent or holding company controlled by conglomerate's chairman Gautam Adani, ports company Adani Ports & Special Economic Zone, Adani Power, electricity transmission firm Adani Energy Solutions, and commodities firm Adani Wilmar said they have received Sebi notices.
Petrol and diesel are among the 90-plus commodities that have been approved by the government for derivatives trading
India's leading commodity bourse - the Multi-Commodity Exchange Commodity of India - has led the commodity futures boom in India in the last year with a market share of 72.4 per cent.
Asia's oldest bourse, Bombay Stock Exchange on Wednesday launched currency derivatives segment (BSE-CDX) that would enable participants to hedge their currency risks through trading in the US dollar-rupee future platform.
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.
The Centre is planning to establish a Taxation Information Exchange System to track inter-state trade of all commodities after the phase-out of Central Sales Tax.
The FMC on Thursday barred the National Spot Exchange and group firms from auctions of commodities held by the bourse after a complaint that firms related to the former managing director took part in the bidding process.
Leading stock exchange BSE has decided to discontinue Stop Loss Market (SL-M) orders from October 9 to prevent erroneous order placement arising out of manual or algo trades. This came after a recent freak trade incident caused a lot of angst among the trading community earlier this month due to an SL-M order. SL-M is a type of order that automatically sells or buys a security at the market price when the trigger price is reached.
New FMC directives for MDs & CEOs; regulator also wants half the directors on commodity exchange boards to be independent.
The Forward Markets Commission will convene a meeting of 21 regional exchanges in the country to prepare a plan of action for their revitalisation, commission's chairman B C Khatua said.
Regulator has asked National Multi-Commodity Exchange to file criminal case against Kailash Gupta.
The regulator's comments has come at a time when national level exchanges NCDEX and NMCE are mulling to cut transaction fees, after leading bourse MCX decided to slash the charges from November 2.
The Budget should use the extra RBI surplus to better effect, suggests A K Bhattacharya.
SMX is a wholly-owned subsidiary of Financial Technologies, which is a leading player in creating and operating exchange platforms.
Capital markets regulator Sebi on Tuesday barred five brokerage houses for up to six months from making fresh applications seeking registration as commodity brokers as they failed to meet 'fit and proper' criteria in the NSEL case. The affected brokerage houses include India Infoline Commodities, Anand Rathi Commodities and Geofin Comtrade (banned for 6 months each), and Phillip Commodities and Motilal Oswal Commodities Broker (for 3 months each). "There were enough red flags for a reasonable person to come to conclude that what was being offered as paired contracts on NSEL were not spot contract in commodities," Sebi said in five separate orders.
Upset over fall in its turnover, commodity exchange NCDEX said statements by some of the key policymakers have affected trading sentiments in futures markets.
MCX has received permission to set up a power exchange, which is expected to become functional in the first half of next year, and for the first time power will be traded like a share or a commodity on an exchange in the country.Price signals from the exchange will encourage producers to sell surplus power or produce it specifically for selling it on the exchange. Besides, the power exchange will make investors and financial institutions comfortable in funding new projects.
The National Stock Exchange (NSE) on Monday cautioned investors against some fraudsters running illegal dabba trading with guaranteed returns to investors. Dabba trading is an illegal form of trading in shares, where operators of such trading rings allow people to trade in equities outside the stock exchange platform. The cautionary statements came after NSE found that the entities -- Shri Parasnath Commodity Private Limited, Shri Parasnath Bullion Private Limited, Faary Tale Trading Private Limited and Bharat Kumar (associated with Trade with Trust) --were providing dabba or illegal trading platform with assured returns.
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.
India's largest commodity bourse--the Multi Commodity Exchange of India --may soon unveil futures contract in gold coins in an attempt to tap the small retail investors across India.
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.
An interview with Jignesh Shah.
The exchange also plans to start Futures trading in electricity, carbon credit, coal, freight index, weather index, real estate index and rain index after the amendment to the Futures Contracts Regulation Act is passed by the Parliament.
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