 Profile
NCDEX Spot Exchange Ltd. is a professionally managed online multi commodity spot
exchange promoted as a wholly owned subsidiary of National Commodity & Derivatives
Exchange Ltd. (NCDEX). NCDEX itself is an online multi commodity futures exchange
promoted by well known entities like ICICI, NSE, NABARD and LIC. Other shareholders
include Punjab National Bank, CRISIL, IFFCO, Canara Bank and Goldman Sachs. NCDEX
is the only commodity exchange promoted by national level institutions.
NCDEX has been in operation since December 15, 2003 and has crossed many milestones
in its eventful existence making it the third largest agri commodities exchange
in the world and the largest in Asia. More than 80% of the turnover on the Exchange
is derived from agricultural commodities. This unique parentage helps NCDEX Spot
Exchange Ltd. a bouquet of benefits which are currently in short supply in the spot
markets.
NCDEX Spot Exchange Ltd. (NCDEX Spot) is a public limited company incorporated on
October 18, 2006 under the Companies Act, 1956. It obtained the Certificate of Commencement
of Business on 2006.
The Board 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 operations have initially started from Maharashtra in sugar and over a period
of time will extend to more states in more commdoties to have a pan Indian character.
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.
The Exchange is headquartered in Mumbai and offers facilities to its members located
all over India. |
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