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There are three large major national commodity
exchanges in India, apart from this there are 18 domestic commodity exchanges.
The 3 major national commodity exchanges are:
National Commodity and Derivatives Exchange Limited
Multi Commodity Exchange of India Ltd
National Multi Commodity Exchange of India Ltd
National Commodity and Derivatives Exchange Limited - NCDEX:
This is an online multi-commodity exchange that is promoted and professionally
managed by the following:
ICICI Bank Limited - ICICI Bank
Life Insurance Corporation of India LIC
National Bank for Agriculture and Rural Development - NABARD
National Stock Exchange of India Limited NSE
Punjab National Bank PNB
CRISIL Limited
Indian Farmers Fertiliser Cooperative Limited - IFFCO
Canara Bank
Essentially, NCDEX, located in Mumbai, is a public limited company, which was
incorporated on 23rd April 23 2003. this was done under the Companies Act, 1956.
on 9th May 2003, it was given its Certificate for Commencement of Business, and
it started its business operations on 15th December 2003.
This exchange is regulated by the Forward Market Commission with regards to the
futures trading in commodities. NCDEX is also subjected to certain laws of the
country that include:
Companies Act
Stamp Act
Contracts Act
Forward Commission (Regulation) Act
Multi Commodity Exchange of India Ltd - MCX:
MCX is an independent multi commodity exchange, headquartered in Mumbai, was
inaugurated on 10th November 2003. It is recognized by the government for
conducting the following in the area of commodities futures and options:
facilitating online trading
clearing
settlement operations
MCX offers opportunities to the likes of:
Producers and Processors
Traders
Corporate house
Regional trading centers
Importers
Exporters
Co-operatives
Industry Associations and institutions
National Multi Commodity Exchange of India Ltd NMCEIL
The National Multi-Commodity Exchange of India Limited, is regarded as the first
de-mutualised online multi-commodity exchange that has been established in the
country. It was incorporated on 20th December 2001, but began business
operations on 26th November 2002. It promoting and managing institutions
include:
Central Warehousing Corporation CWC
National Agricultural Cooperative Marketing Federation of India Limited
NAFED
Gujarat Agro Industries Corporation Limited - GAIC
National Institute of Agricultural Marketing - NIAM
Gujarat State Agricultural Marketing Board - GSAMB
Neptune Overseas Limited
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