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Vishwanath Kulkarni

Bangalore , July 11

THE National Multi Commodity Exchange (NMCE) proposes to tie up with three Chinese commodity exchanges and the Singapore Commodity Exchange.

Mr Kailash Gupta, Managing Director of NMCE, who was part of the high-level Government delegation that recently visited China, said talks had been initiated with the Chinese exchanges on the proposed tie-ups.

However, NMCE had not set any timeframe for finalising these tie-ups, he added.

The Chinese exchanges, which work in a very good regulatory environment, have seen good trading volumes in commodities such as soyabean, soya oil, rubber, maize and wheat, among others, he said.

"The proposed tie-ups would cover these commodities and metals such as copper and aluminium, which are traded in good volumes on those exchanges," Mr Gupta added.

"We see a very good correlation between the Chinese exchanges and the international market."

The proposed tie-ups would initially be in terms of sharing of information between the exchanges.

Both will exchange information on regulatory set-up and training of personnel, among others.

The exchange tie-up would also involve sharing of price movements of various commodities and stock positions on a real-time basis so that the growers and traders from both countries could take informed decision, Mr Gupta said.

Tie-ups on real-time information sharing would benefit the growers in both countries, he said.

NMCE was also keen to explore tie-up with Singapore Commodity Exchange (SICOM) for rubber futures and with the Malaysian Derivatives Exchange for crude palm oil, Mr Gupta said. "We expect to initiate dialogues with these entities in the near term."

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NMCE plans tie-ups with Chinese bourses

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