National Multi-Commodity Exchange of India Limited
Financial Services - Ahmedabad, Gujarat, India
National Multi-Commodity Exchange of India Limited Employees
National Multi-Commodity Exchange of India Limited Senior Management
National Multi-Commodity Exchange of India Limited Details
NMCE started its operations on November 26, 2002, as the country's first, online, demutualised, multi-commodity exchange with nationwide reach. It not only revived futures trade electronically in the commodities in India after a gap of 41 years, but also integrated the centuries old commodity market with the latest technology. It is backed by compulsory delivery based settlement to ensure transparent and fair trade practices. NMCE offers electronic platform for future trading in plantation, spices, food grains, non-ferrous metals, oil seeds and their derivatives. NMCE is promoted by commodity-relevant public institutions, viz., Central Warehousing Corporation (CWC), National Agricultural Cooperative Marketing Federation of India (NAFED), Gujarat Agro-Industries Corporation Limited (GAICL), Gujarat State Agricultural Marketing Board (GSAMB), National Institute of Agricultural Marketing (NIAM), Neptune Overseas Limited (NOL), Punjab National Bank (PNB) and Reliance Money.NMCE has robust delivery mechanism making it the most suitable for the participants in the physical commodity markets. Public interest rather than commercial interest guide the functioning of the Exchange. It has also established fair and transparent rule-based procedures and demonstrated total commitment towards eliminating any conflicts of interest.When an order is placed on the exchange, the server at NMCE scans through the orders posted on it from all its trading terminals. It then locates and matches the best counter-offers/bids by maintaining anonymity of the counter-parties. Anonymity helps is eliminating formation of cartels and other unfair practices, thereby protecting the efficiency of price-discovery at the Exchange. NMCE was the first commodity exchange to provide trading facility through internet, through Virtual Private Network (VPN).NMCE follows best international risk management practices. Innovation is the way of life at NMCE.
