Financial Daily from THE HINDU group of publications
Tuesday, Mar 30, 2004
Financial Daily from THE HINDU group of publications Tuesday, Mar 30, 2004 |
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Agri-Biz & Commodities
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Commodity Exchanges NMCE launches SMS service for live updates Our Bureau
Mumbai , March 29 NATIONAL Multi-Commodity Exchange of India Ltd (NMCE) today launched short messaging service (SMS) - query services on mobiles to provide live updates on the movements on the commodities traded on the exchange, an official said. Users would thus be able to keep a tab on futures prices even while they are travelling or out of office. The service, currently available in English and Hindi, has a number of features. Users can send SMS querying for a particular product or series to the mobile number provided by NMCE. A user who keys in the word `PEP' or `Kali Mirch' for instance, would have real time access to the last traded price for all series of pepper, with an abbreviated comment on the kind of movement against each series. Same is the case with other commodities such as `Gold/Sona'. For more specific information, a user could access the last trade. Open, High-low & close price for pepper-August 2004, by simply keying in `PEPAUG2004'. There is also a facility that allows the user to type the complete name of a commodity in case he does not know the code for a particular product. Inaugurating the service in New Delhi, Mr N.K. Choubey, Chairman of NMCE and concurrently the Managing Director of Central Warehousing Corporation (CWC), said: "Introduction of SMS query service is yet another first step taken by NMCE to facilitate its clients/members to have ready information on the movement of commodity prices on a real time basis." Mr Kailash Gupta, Managing Director of NMCE, said that the new service would initially be free of cost on a trial basis to the members, and added that the service was the first initiative of its kind by any exchange, stock or commodity, in the country.
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