The country?s new national commodity bourse, Indian Commodity Exchange, will start trading operations on November 27 live with six commodities, a top official of the exchange said today.
?We have decided to go live on November 27,? Ajit Mittal, Managing Director and CEO of the exchange, told PTI.
Initially, ICEX will offer trading in six commodities — gold, silver, crude oil, copper, gaurseed and refined soya oil. A few more will be added a week later, Mittal said.
The exchange has already got permission from commodity market regulator Forward Market Commission to launch a dozen contracts.
ICEX is promoted by public sector MMTC Ltd and Indiabulls Financial Services. Indiabulls owns 40 per cent stake in the exchange, MMTC 26 per cent, Indian Potash Ltd 10 per cent and KRIBHCO and IDFC have 5 per cent each.
Mittal said ICEX has 250 members and will expand its membership after the exchange goes into operation.
IThe other national commodity exchanges are MCX, NCDEX and NMCE.