The Hindu Business Line : NBOT to launch screen-based trading

"We are in the process of replacing the outcry system gradually by introducing screen-based trading. It is in the advance stage," Mr A.S. Jeyakumar, Executive Director, NBOT told Business Line.

The exchange has been given permission to conduct forward trading in soyabean, its oil and meal and mustard seed/rape seed, its oil and cake and crude palm oil.

"The exchange may shift its current trading system to new system within a year," he said.

The exchange has developed the trading, clearing and settlement system that is user-friendly and functioning under the fully computerised environment.

FMC has recently granted renewal of recognition for a further period of five years in respect of forward trading in rapeseed/mustard seed, oil and cake, i.e. from June 1, 2005 to May 31, 2010.

"FMC has permitted the exchange to carry out forward trading in palm derivatives, namely, crude palm oil (CPO), crude palmolein and CPO refined for the next three years," he said.

The Government issued a notification bringing palm complex under the purview of Section 15 of the Act. "Futures trading in palm oil have now been brought under restricted list. Earlier, it was free commodity," he said.

As suggested by FMC, the exchange has adopted volume based fees system and is levying Re 1a tonne on total turnover.

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
NBOT to launch screen-based trading

Combine harvesters usher change in foodgrains marketing

US to review dumping duty on Indian shrimp

100 new fish stalls to be run by women

Rubber prices firm on buying

Guatemala takes flavour off cardamom exports

Long-term policy must for oilseeds sector

Training for Karnataka farmers

Cooperatives flay Nabard move to hike refinance rates