National Multi-Commodity Exchange

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National Multi-Commodity Exchange (NMCE)
NMCE.gif
Founded 2002
Headquarters Ahmedabad, India
Key People Anil Mishra, CEO
Products Commodity futures contracts
Website http://www.nmce.com/

The NMCE is India's third-largest commodities exchange offering contracts on oils and oil seeds, coffee, rubber and spices.

The exchange is ranked behind the Multi-Commodity Exchange (MCX) and the National Commodity & Derivatives Exchange (NCDEX).

Background

The National Multi Commodity Exchange of India Ltd. (NMCE) was launched on November 26, 2002 as India's first online, demutualized commodity exchange by a group of Indian commodity-based corporations and public agencies, and listed its first contracts on 24 commodities in November 2002.[1][2]

As of July 2016, the NMCE listed futures contracts on a total of 13 different commodities, ranging from oils and oil seeds, to rubber, sacking, raw jute, coffee, Isabgul seed, chana, pepper and cardamom.

NMCE is currently India's third-largest commodity and derivatives exchange as measured by average daily turnover, behind market dominator MCX and close rival NCDEX.

Continued recent growth in India's commodity trading means the NMCE's market will soon be joined by a fourth new exchange competitor, currently named the Indian Commodity Exchange (ICEX).[3]

Key people

Anil Mishra, CEO


References

  1. First state-of-the art National Multi Commodity Exchange set up by Public Institutions: NMCE. National Multi-Commodity Exchange.
  2. Annual Report 2014-2015. National Multi-Commodity Exchange.
  3. 'A cost-competitive and transparent system will automatically attract customers'. Business Standard (India).