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What is NCDEX

National Commodity & Derivatives Exchange Limited (NCDEX) is an online commodity trading exchange. It is a public limited company and started operations on December 15, 2003.

NCDEX offers a trading platform for market participants to trade in 34 commodities. It is a well-known and trusted exchange that facilitates trading of agricultural based products such as oil and oil seeds, cereals, etc. It launched Guar Seed Options recently. It also offers trading in precious metals, energy, polymer but the volumes traded here are much lower as compared to MCX.

NCDEX Integration

NCDEX is promoted by institutions such as ICICI Bank Limited, NABARD, LIC and NSE and it has the support of several nationalized and private banks, which manage clearing and transactions for members. Among these banks are: Axis Bank Limited, Bank of India, Canara Bank, Development Credit Bank Limited, Dhanlaxmi Bank Limited, HDFC Bank Limited, ICICI Bank Limited and IndusInd Bank Limited besides others.

More about NCDEX

It employs latest technology to constantly upgrade its infrastructure so that market participants can be offered quick and accurate trading experience. The exchange can be accessed by all members across the country with computer-to-computer link (“CTCL”) as well as via trader workstations using multiple connectivity media like VPN, VSATs, leased lines and internet.

NCDEX is driven by sheer professionalism and offers transparency and best global practices to its participants. It boasts of an independent Board of Directors and is committed to provide a world-class commodity trading platform. Securities and Exchange Board of India regulates the working of NCDEX and it falls under the ambit of various laws such as Securities Contracts (Regulation) Act, 1956, Companies Act, Stamp Act and Contract Act.

NCDEX is headquartered in Mumbai and offers facilities to its members from centres located in Mumbai, Delhi, Ahmedabad, Indore, Hyderabad, Jaipur and Kolkata. It has 848 registered members and has a client base of approximately 20 lakhs. It offers a trading platform to over 49,000 terminals across 1,000 centers in India. It is responsible for providing deliveries of commodities through a network of over 594 accredited warehouses. These warehouses have a cumulative holding capacity of approximately 1.5 million tonnes. It offers average deliveries of 1 lakh MT at every contract expiry.