Forward Markets Commission (FMC), a regulator for commodity futures market, has decided to streamline market holidays for all the national and regional exchanges soon. All the commodity futures exchanges including national and regional have different holidays during the year due to its regional importance.
?We have received some suggestion from the market participants to streamline market holidays and we are working on it,? BC Khatua, chairman Forward Markets Commission told FE. ?All the exchanges should follow a similar holiday pattern like the government . Members or market participants who have multiple membership in the different exchanges will face inconvenience. Some exchanges are closed on a particular day while others are not. Under such conditions, partcipants cannot trade in more than one exchange,? he said.
?Sometimes our clients find it difficult to trade on the national exchanges (MCX and NCDEX), during holidays. For instance, MCX observed a market holiday on Mahavir Jayanti (March 31) while NCDEX was open. Most broking houses have common membership in both the exchanges. Also, NCDEX has six holidays while MCX has notified 11 holidays in the current calendar year,? a local broker said.