- National Commodity and Derivatives Exchange
National Commodity & Derivatives Exchange Type Online commodity exchange Founded 15 December 2003 Headquarters Mumbai, Maharashtra, India Website www.ncdex.com
National Commodity & Derivatives Exchange Limited (NCDEX) is an online commodity exchange based in India. It was incorporated as a private limited company incorporated on 23 April 2003 under the Companies Act, 1956. It obtained its Certificate for Commencement of Business on 9 May 2003. It has commenced its operations on 15 December 2003. NCDEX is a closely held private company which is promoted by national level institutions and has an independent Board of Directors and professionals not having vested interest in commodity markets.
- Jaypee Capital
- Renuka Sugars
- Life Insurance Corporation of India (LIC)
- National Bank for Agriculture and Rural Development (NABARD)
- National Stock Exchange of India (NSE)
- Punjab National Bank (PNB)
- CRISIL Limited (formerly the Credit Rating Information Services of India Limited)
- Indian Farmers Fertiliser Cooperative Limited (IFFCO)
- Canara Bank
- Goldman Sachs
NCDEX is a public limited company incorporated on 23 April 2003 under the Companies Act, 1956. NCDEX is regulated by Forward Market Commission (FMC) in respect of futures trading in commodities. Besides, NCDEX is subjected to various laws of the land like the Companies Act, Stamp Act, Contracts Act, Forward Commission (Regulation) Act and various other legislations, which impinge on its working. On 3 February 2006, the FMC found NCDEX guilty of violating settlement price norms and ordered the exchange to fire one of their executive.
NCDEX is located in Mumbai and offers facilities in more than 550 centres in India.
NCDEX currently facilitates trading of 57 commodities -
Agri-based commodities - Castor Seed
Coffee - Arabica, Coffee - Robusta
Cotton Seed Oilcake
Crude Palm Oil
Expeller Mustard Oil
Groundnut (in shell)
Groundnut Expeller Oil
Jute sacking bags
Indian 28 mm Cotton
Indian 31 mm Cotton
Masoor Grain Bold
Medium Staple Cotton
Mulberry Green Cocoons
Mulberry Raw Silk
Rapeseed - Mustard Seed
Refined Soy Oil
Sugar - Small
Sugar - Medium
Urad (Black Matpe)
Yellow Red Maize
Yellow Soybean Meal.
Gold 1 KG
Silver 30 KG
Silver 5 KG
Brent Crude Oil
Light Sweet Crude Oil.
Mild Steel Ingot
Linear Low Density Polyethylene
At subsequent phases trading in more commodities would be facilitated.
NCDEX also offers as an information product, an agricultural commodity index. This is a composite index, called NCDEXAGRI that convers 20 commodities currently being offered for trading by NCDEX. This is a spot-price based index. NCDEX also offers as an information product, the index futures, called FUTEXAGRI. This is essentially a what-if index. It indicates, that if futures on the index could be traded, then the current FUTEXAGRI value should be the no-arbitrage value for the index futures. However, indexes and index futures are not allowed to be traded under the current regulatory structure. Hence, these are only available for information, as of now.
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