FMC allows NCDEX to offer additional guarseed contracts
Commodity markets regulator FMC has permitted NCDEX to offer futures trading in additional guarseed contracts that are to expire next year.
New Delhi: Commodity markets regulator FMC has permitted NCDEX to offer futures trading in additional guarseed contracts that are to expire next year.
Presently, three guarseed contracts are active on the exchange platform and each conclude in October, November and December this year.
In a directive issued to NCDEX, the Forward Markets Commission (FMC) said the exchange has been allowed to launch additional guarseed contracts in 2014, subject to conditions.
The bourse should not change the contract specification after the launch of the contract, ensuring settlement of outstanding contracts and submits trade details to the regulator on a daily basis, it added.
In May, the regulator had allowed the commodity bourses to resume futures trading in guarseed and guargum. The trade in these two items was banned last year following sharp rise in prices.
NCDEX is the second largest commodity bourse in the country. Most of the guar trade happens on this exchange platform.