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Mumbai, June 21

National Spot Exchange, the first pan-India electronic spot exchange, has received 155 applications for enrolment as trading-cum-clearing member, for which another 500 traders and corporates have evinced interest in taking membership, the exchange said in a press release. The exchange launched its membership drive on June 1. Mr Anjani Sinha, Managing Director and Chief Executive Officer, said, “NSEL will create a linkage between futures market and spot market by laun ching large number of spot delivery contracts. The net impact would be that the futures market would become more structured and can move towards compulsory delivery contracts in all commodities gradually.” Farmers would be able to derive advantage of futures market by selling in localised spot contracts. “Membership will be available up to June 30. The admission fee for trading-cum-clearing membership is Rs 5 lakh,” said Mr Sinha. —

Our Bureau

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155 apply for NSEL membership

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