NCDEX Spot Exchange Ltd. (NSPOT) is a professionally managed online commodity spot exchange established on October, 18 2006. It has commenced operations and has plans to encompass the entire spectrum of commodities across the country to bring home the advantages of an electronic spot trading platform to all market participants in the agricultural and non-agricultural segments.
On the agriculture side, the Exchange will enable the farmers to trade seamlessly on the platform so that they receive the best possible price. The real time availability of information and simple delivery process will ensure that the farmers are the main direct beneficiaries of this trading platform. The users of the commodities in the value chain will have simultaneous access to the Exchange on the buy side and procure at the best possible price. The efficiency levels attained as a result of such seamless spot transactions will result in major benefits for both producers and consumers as the supply chains are made more robust.
In the non-agricultural segment, both producers and consumers of commodities would have real time access to price information which will enable them to transact their business and lower cost through effective raw material and finished goods inventory management.
NSPOT derives its strength from NCDEX Limited, which is a leading futures exchange dealing with agricultural and non-agricultural products. NCDEX Limited has been in operation since December 15, 2003 and has crossed many milestones in its eventful existence. More than 80% of the turnover on the Exchange is derived from agricultural commodities.
NSPOT is a public limited company incorporated on October 18, 2006 under the Companies Act, 1956. It obtained the Certificate of Commencement of Business on October 18, 2006.
The Board of Directors of the company consists of eminent professionals and businessmen from diverse fields well versed with the working of online exchanges. The Board is committed to provide a world class exchange platform for market participants to trade in a wide spectrum of spot market products driven by global practices, professionalism and transparency.
The Exchange operations will be regulated in each state by the respective state governments and will be subjected to various laws of the land like the Companies Act, Stamp Act, Contracts Act, APMC Act and others which impinge on its working.
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