Financial Daily from THE HINDU group of publications
Sunday, Feb 16, 2003
Financial Daily from THE HINDU group of publications Sunday, Feb 16, 2003 |
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Agri-Biz & Commodities
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Commodity Exchanges Government - Policy NSE combine gets multi-commodity exchange status Our Bureau
MUMBAI, Feb. 15 THE Union Government has decided to grant the status of "National Multi-Commodity Exchange" to the National Stock Exchange-ICICI Bank combine. This is the third exchange to join the list of national multi-commodity exchanges. In January 2003, the Government had accorded the status two exchanges - Ahmedabad-based Online Commodity Exchange of India Limited (OCEIL), and Indore-based National Board Of Trade (NBOT). NBOT is yet to get the final approval. It has been given in-principle approval so that it puts in place requisite infrastructure for trading online. NBOT has been given 10 months to set up online trading. According to a Government official, the application of NSE-ICICI Bank was kept in abeyance over question relating to their warehousing scheme and delivery points. Given the track record of NSE in stock markets, there is strong belief that it has the potential to perform well.
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