NCDEX

NCDEX

As internet has brought the world closer, on-line marketing and selling is taking place all over the world. One of them in India is National Commodity & Derivates Exchange Limited (NCDEX). It is an on-line multi-commodity exchange which is being managed by professionals. NCDEX? shareholders comprises of a lot many national level institutions, public sector banks and various companies. On 23rd April 2003 the company was launched under the Companies Act, 1956 and on 15th December 2003 its operation started. It is being promoted by national level institutions and has a Board of Directors and professionals who do not have interest in commodity markets. NCDEX received its Certificate for Commencement of Business on 9th May 2003. ICICI Bank Ltd, LIC of India, NABARD and NSE are its promoter shareholders. Some of other shareholders of NCDEX are Canara Bank, Punjab National Bank, CRISIL Ltd., Indian Farmers Fertiliser Cooperative Ltd., Goldman Sachs, Intercontinental Exchange, Shree Renuka Sugar Ltd, Build India Capital Advisors LLP and Capital Services Ltd. FMC found NCDEX guilty of violating norms for price and thus on 3rd February 2006 one of its executive was sacked.

NCDEX has its head office in Mumbai and has more than 550 centres all over India. Mr. R. Ramaseshan is the Managing Director and CEO of NCDEX.  He is being assisted by Chief Business Officer, Chief Operations & Technology, Chief Compliance Officer, Chief Corporate Services and Risk Management staff. Mr. J. Sampath (Chief Compliance Officer), Mr. Nirmalendu Jajodia (Chief Technology Officer), Mr. M.K. Ananda Kumar (Chief Corporate Services) and Mr. Vijay Kumar (Chief Business Officer) assist Mr. R. Ramaseshan in operating NCDEX. The Board of directors of NCDEX India has the responsibilities like organizing, maintaining, controlling, managing, regulating and facilitating various operations of the Exchange and of commodities by trading members and/or clearing members which are subject to the provisions of the Forward Contracts (Regulation) Act 1952.  The Board of Directors appoints one or more executive committee for various responsibilities to handle the functioning of NCDEX. It is being regulated by Forward Markets Commission and is subjected to various laws like Forward Contracts (Regulation) Act, Companies Act, Contract Act, Stamp Act and many more.

NCDEX is the only an economic good exchange in the country which is being promoted by national level institutions. This online exchange is able to provide information of the products which are in shortage in the market. The promoters and shareholders of NCDEX are experienced players in their respective fields and thus are able to pool up their resources, trust, technology and risk management skills to maintain NCDEX. NCDEX is a platform where market participants for trading are able to get the best practices by best professionals from all over the world and these trading practices are transparent.

Facilities Offered At NCDEX

NCDEX provides information product of agricultural commodity index which is called NCDEXAGRI and this includes about 20 commodities. NCDEX offer these 20 commodities are for trading.  NCDEX offers two types of products Agricultural products and non-agricultural products. Agricultural products includes rubber, pepper, spices, turmeric, jeera, chilli, coriander, pulses, chana, fibres, V-787 kapas, Shankar kapas, cereals, wheat, barley, maize-feed/industrial grade. NCDEX provides information product, the index futures, known as FUTEXAGRI which indicates that if future on the index is being traded then current FUTEXAGRI value  will be somewhere near no-arbitrage value for the future index. These are available for information only and not for trading. NCDEX has appointed clearing banks which acts as funds settling agency for all deals which are cleared through exchange and/or any other funds transaction between clearing members and the clearing house and between clearing members.

NCDEX online exchange is one of the best facility available for online traders.

Commodities Traded at NCDEX

NCDEX currently facilitates trading of 57 commodities -

  • Agri-based commodities - Castor Seed
  • Chana
  • Chilli
  • Coffee - Arabica,
  • Coffee - Robusta
  • Cotton Seed Oilcake
  • Crude Palm Oil
  • Expeller Mustard Oil
  • Groundnut (in shell)
  • Groundnut Expeller Oil
  • Guar gum
  • Guar Seeds
  • Gur, Jeera
  • Jute sacking bags
  • Kidney Beans
  • Indian 28 mm Cotton
  • Indian 31 mm Cotton
  • Masoor Grain Bold
  • Medium Staple Cotton
  • Mentha Oil
  • Mulberry Green Cocoons
  • Mulberry Raw Silk
  • Rapeseed - Mustard Seed
  • Pepper
  • Raw Jute
  • RBD Palmolein
  • Refined Soy Oil
  • Rubber
  • Sesame Seeds
  • Soy Bean
  • Sugar - Small
  • Sugar - Medium
  • Turmeric
  • Urad (Black Matpe)
  • V-797 Kapas
  • Yellow Peas
  • Yellow Red Maize
  • Yellow Soybean Meal.

Bullion -

  • Gold 1 KG
  • Gold 100gm
  • Silver 30 KG
  • Silver 5 KG

Energy -

  • Brent Crude Oil
  • Furnace Oil
  • Light Sweet Crude Oil

Ferrous Metals-

  • Mild Steel Ingot

Plastics-

  • Polypropylene
  • Linear Low Density Polyethylene
  • Polyvinyl Chloride.

Non-Ferrous Metals-

  • Aluminum Ingot,
  • Copper Cathode
  • Nickel Ingot
  • Zinc Cathode
© 2011. All Rights Reserved