Story link: http://www.goodnewsindia.com/index.php/sieve/article/ncdex-is-third-in-the-word
After just two years of operation, India’s National Commodity and Derivatives Exchange Limited [NCDEX] has emerged the third largest online trading mechanism in the world. NCDEX is a private initiative floated by nine Indian financial institutions to offer a dynamic, transparent market for commodities. It deals in 56 commodities, the majority of which are farm produce. NCDEX ensures best current prices and assured future markets. UNCTAD says NCDEX has grown spectacularly, leaving behind the New York Board of Trade - and that, when India’s agricultural growth at 2%, lags far behind industrial growth. The potential for the future is therefore obvious.
Now with a view to offer competition to NCDEX , India’s Forward Markets Commission is planning to encourage more such exchanges. NCDEX