The National Multi-Commodity Exchange (NMCE) has got a new corporate identity. On Wednesday, Forward Markets Commission (FMC) chairman, B C Khatua unveiled the new-look logo of NMCE.
While unveiling the new identity, BC Khatua, chairman, Forward Markets Commission (FMC) said, ?The new corporate identity is not a mere change in the logo, but a reflection of the inner change in approach and mindset to take upon challenges to be a vibrant and leading commodity exchange in the future.?
The exchange?s current logo is being replaced with a new and bold looking ?NMCE? written in red with three dotted red and blue arrows on top right hand side, signifying continuous forward movement, to attain the top position.
The exchange has also decided to shift its head office from Ahmedabad to Mumbai.
?We have decided to shift our head office to Mumbai from Ahmedabad. The exchange has already set up new office (about 10,000 square feet) at Worli (central Mumbai) which will commence operation from today,? Anil Mishra, CEO, NMCE, said on the sidelines of a conference to unveil the exchange?s new logo. The exchange is planning to raise Rs 100 crore through issuing of fresh shares to existing stakeholders including Reliance Money, Kailash Gupta, MD, NMCE, said.
?There will be no question of bringing more partners but we will issue additional shares to existing shareholders only,? Gupta said. The exchange is preparing to announce a series of new business initiatives including agri-spot exchange and launching of currency futures.
?The fresh funds will be used in funding exchange?s expansion plans as the potential in the commodity market is huge,? said Sudip Bandyopadhyay, director, NMCE, said.
The exchange is also in the process to re-launch selected agriculture commodities including cotton, rapeseed and guarseed shortly after some modifications.
?Cotton contract may be re-launched very soon followed by rapeseed and guar,? he said.
The exchange has sought feed-back from all stakeholders including growers and buyers to build consensus on changes required in the existing contract. ?The idea is to design contracts in a way to increase participation and make contracts more liquid,? he added.