Sunday July 20, 02:04 AM
NCDEX spot exchanges to roll out from Oct
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National Commodity & Derivatives Exchange Limited (NCDEX), the national-level online commodity exchange, will be rolling out spot exchanges (for spot trading) across the country from October in a phased manner. The company hopes to commence futures trading on four commodities—rubber, chikpeas, soyabean oil and potatoes—from August. The four commodities were banned by the Centre on May for four months. "Spot markets or exchanges are comparatively bigger players in the world. We believe that the spot exchanges would be the right platform for farmers in India which will not only enable them to decide where and when to sell but also protect their interests," NCDEX MD and CEO R Ramaseshan told reporters on Saturday. The spot exchanges will be rolled out through the company's wholly-owned subsidiary called NCDEX Spot Exchange Limited, he said.
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