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.
The government has reopened the case for convergence between the capital market and commodity futures regulator, a move that has attracted opposition from the Forward Markets Commission, which regulates the commodities futures business.
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.
The Securities and Exchange Board of India on Monday said it was planning a tie up with Commodities and Futures Trading Commission of US within a month for sharing of information.
DEA officials to push for this at a meeting with FM Jaitley.
Damage from new shenanigans can be contained if regulators move quickly when something does not smell right, counsels Debashis Basu.
Intense competition and lifting of trading ban on four agri products will help the commodity futures exchanges end 2009 with a record turnover of up to Rs 70,00,000 crore (Rs 70 trillion), up 39 per cent from last year. The total turnover was at Rs 50,33,872 crore (Rs 50.338 trillion) in 2008.
Can disparity in futures prices at two prime commodity exchanges in the country hold pepper trade to ransom?
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.
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.
The $5.7 billion total includes $1.6 billion in fines separately imposed by the US Federal Reserve on the five banks.
The official said that the National Statistical Commission (NSC) is examining the working group report on the roadmap for introducing the PPI and their recommendations are awaited. "It is with Statistical Commission, so we will wait for the panel recommendation," the official, who did not wish to be named, said.
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.
India is at risk of sustained food price inflation as domestic production of key staples such as wheat and edible oil fails to keep pace with rising demand, according to the country's top official on commodities trading.
India's apex Forward Markets Commission says physical delivery is essential for the transparent functioning of the commodity exchanges.
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.
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 Centre may soon come out with an ordinance to amend the Forward Contracts (Regulation) Act to give autonomy to commodity market regulator Forward Markets Commission. "The issue is likely to come up before the Cabinet on January 24," Minister of State for Food Processing Industries Subodh Kant Sahai said on the sidelines of an Assocham-organised conference on futures trading.
Bharat Krishak Samaj demanded that the Pradhan Mantri Fasal Bima Yojana should be replaced with a new crop insurance and compensation scheme.
The bulk of of trading on stock markets is done algorithmically, by computerised clerks working at the behest of human traders.
The exchange also asked traders to square off their trading positions in three contracts -- gold February 2015, kapas March 2015 and kapas April 2015.
Royal Bank of Scotland and JP Morgan were also fined over attempts to rig currency benchmarks in a year-long probe that has put the largely unregulated $5 trillion-a-day market on a tighter leash, with dozens of dealers suspended or fired.
The aggrieved investors of National Spot Exchange (NSEL) have moved the Securities and Exchange Board of India (Sebi) against Financial Technologies (FTIL), the listed promoter.
The new bill will now be introduced in the Lok Sabha for passage in the upcoming Winter session of Parliament beginning November 29.
Slew of resignations at NSEL over past month in the wake of scrutiny; MCX gaps caused by new-age norms for commexes.
While reforms may translate into new opportunities for firms like ITC, Adani Wilmar and Reliance Retail, farmers are unlikely to use it for fear of upsetting commission agents.
Three key agriculture Bills, approved by the Lok Sabha, are facing staunch opposition from within the ruling coalition with senior minister Harsmirat Kaur Badal resigning in protest and farmers hitting the street.
Shetkari Sanghatana president Anil J Ghanwat said the panel's report was in 'favour of farmers' and will decide next week on releasing the report in the public domain.
They believe that long-term story is intact.
Pragmatism and flexibility is a virtue. An untethered and short-term approach to policymaking is a flaw, argues Mihir S Sharma.
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.
Asian shares ended higher after a string of positive US economic data.
Addressing public rallies at Barnala chowk and Bhawanigarh in Sangrur, the chief minister vowed to do whatever it takes to protect the farmers and the state from the 'devastating' effects of the 'black laws'.
In April, RBI had projected retail inflation to be around 5 per cent.
Investors booked profit ahead of the outcome of the two-day US Fed policy meet which begins today.
Top 5 losers include Lupin, Cipla, Sun Pharma, Dr Reddy's Lab and GAIL down 1.6%-11%.
R-Cap's demands following PwC's audit report add a fresh layer of worries for MCX investors and could hit valuations marginally.
Rajan retained the short-term lending rate at 6.5 and the cash reserve requirement of banks at 4 per cent.
Amid a spurt in terror attacks in various countries, Prime Minister Narendra Modi on Thursday said terrorism is the "gravest threat" to the world, "equally impacting" India and Mozambique which agreed to strengthen security and defence ties and bolster cooperation in food security.
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