Spot exchange starts mock trading, to go live Aug 8
Mumbai: National Spot Exchange (NSEL), India's first online spot trading platform that is scheduled to go live Aug 8, commenced mock trading on a pan-India basis in agriculture commodities.
According to an announcement, NSEL has received license to commence online trading from the governments of Maharashtra, Gujarat and Karnataka.
It has also signed Memoranda of Understanding (MoUs) with the governments of Rajasthan and Madhya Pradesh.
Additionally, NSEL has signed an MoU with the Gujarat Agro-Indistrues Corp, which has a franchisee network of 1,200 active centres that will now be connected to the exchange.
Initially, agri-commodities will be launched with production areas as delivery centres of Maharashtra, Gujarat, Karnataka, Kerala and Bihar, and non-agri commodities at different parts of the country as delivery centres.
NSEL Managing Director and CEO Anjani Sinha said the exchange will launch arecanut, black pepper, castor seeds, coriander, cumin seed, cotton (both long and medium), gold, rubber, silver, tur and urad, among a host of commodities for trading.
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IANS
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