National Commodity and Derivatives Exchange
|Founded||15 December 2003|
|Headquarters||Mumbai, Maharashtra, India|
|Key people||Samir Shah, MD (incharge)|
National Commodity & Derivatives Exchange Limited (NCDEX) is an online multi commodity exchange based in India. It is a public 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 the only commodity exchange in the country promoted by national level institutions. This unique parentage enables it to offer a bouquet of benefits, which are currently in short supply in the commodity markets. The institutional promoters and shareholders of NCDEX are prominent players in their respective fields and bring with them institutional building experience, trust, nationwide reach, technology and risk management skills. NCDEX is regulated by Forward Markets 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.
- 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
- IntercontinentalExchange (ICE)
NCDEX has offices in Mumbai, Delhi, Ahmedabad, Indore, Hyderabad, Jaipur and Kolkata.
- Ncdex had 848 registered members and client base of @ 20 Lakh as on 31 July 2013
- Trading conducted on more than 49,000 terminals across 1000 centers in India as on 31 July 2013
- Facilitates deliveries of commodities through a network of over 594 accredited warehouses through 8 Warehouse Service Providers with holding capacity of around 1.5 million tonnes
- Average deliveries of 1 lakh MT at every contract expiry; Average delivery ratio for Q1 of financial year 2013-14 is 98 %
- NCDEX offers futures trading in 31 agri and non-agri commodities.
- NCDEX also offers as an information product, an agricultural commodity index. This is a value weighted index,called DHAANYA and is computed in real time using the prices of the 10 most liquid commodity futures traded on the NCDEX platform. Dhaanya aims to provide a reliable benchmark for the traded Agri-commodities in India.
- Introduced N- Charts – an advanced web based charting tool provided to users free of cost, helping them in technical analysis.
- Launched COMTRACK® - a proprietary electronic warehouse accounting system
- Exchange for Physicals - recently announced EFP (Exchange for Physicals) facility in 18 contracts traded on the Exchange platform, which will help trade participants in addressing their counterparty and business risks inherent in the bilateral transactions in the physical market.
- Launched GOLDHEDGE that will give a transparent and straightforward price benchmark of the yellow metal to the consumer. The contract, GOLDHEDGE, is available for trading from Jan 16, 2014. The one-kg gold hedge contract provides a transparent platform for investors with exposure to the international markets. The final settlement prices is arrived at after taking into account the gold price in dollar terms, rupee value against dollar and the conversion ratio.