National Commodity & Derivatives Exchange Limited (NCDEX) is an online commodity exchange based in India. It has an independent Board of Directors and professional management, who both have vested interest in commodity markets. It provides a commodity exchange platform for market participants to trade in commodity derivatives. 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, and began operations on 15 December 2003. NCDEX is the only commodity exchange in the country promoted by national institutions. NCDEX is regulated by the Forward Markets Commission (FMC), and is subject to the Companies Act 2013, Stamp Act, Contracts Act, Forward Commission (Regulation) Act, and various other laws.
NCDEX offers futures trading in 31 agricultural and non-agricultural 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 ten most liquid commodity futures traded on the NCDEX platform. Dhaanya aims to provide a reliable benchmark for India's agri-commodities.
Introduced N-Charts – a free, web-based charting tool provided to users for 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 NCDEX platform, which they intend to help trade participants address counter-party and business risks inherent in bilateral transactions in the physical market.
Launched GOLD HEDGE, a transparent price benchmark of gold 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.