Eight states including Uttar Pradesh are offering inter-state trading via 21 electronic national agricultural market (eNAM) so far in the country, the Agriculture Department said. Under the eNAM, launched in 2016, agri-trading was initially allowed within a mandi and later inter-mandi within a state was permitted. So far, 10 states are offering inter-mandi trade within […]
According to a new report by the World Gold Council, holdings in global gold-backed ETFs rose 72 tonnes in January 2019 to reach 2,513 tonnes (80.8 million troy ounces), hitting the highest levels in nearly six years. In dollar terms net inflows in January equaled $3.1 billion with the value of gold held in ETF vaults reaching […]
Volumes on the National Commodity & Derivatives Exchange (NCDEX) fell sharply after the bourse shifted trading to a disaster recovery (DR) site last month, the Business standard newspaper reported. A DR site is an alternative scaled-down trading facility that exchanges use when the primary set-up becomes dysfunctional. The NCDEX decision to migrate to a DR site had […]
India’s capital and commodities market regulator, Securities and Exchange Board of India (SEBI) is planning to open up the commodities market for foreign portfolio investors (FPIs), fund houses and portfolio management services (PMS) by March this year. Recently, SEBI had approved the concept of a universal exchange, wherein a bourse can offer both equity and commodity trading under the […]
NCDEX e-Markets (NeML), a group company of India’s NCDEX, has signed an agreement with the Iranian Mercantile Exchange to develop a platform for commodities trade between the two countries. “This agreement with NeML will create a joint e- trading platform for trading of commodities from Iran to India and vice-versa. The trading platform is likely […]
Indian agri-commodity bourse NCDEX said as many as 99 Farmers Producers Organisations (FPOs) from 14 states are now registered on its trading platform, with the latest to sign-up from Kerala and Gujarat. “A total of 99 FPOs have opened their accounts so far and more than 119 FPOs are in process of opening their account with NCDEX,” the exchange said. More than 21,000 tonnes of commodities […]
Onion auctions at Lasalgaon and other markets in India’s Nashik region resumed on Monday after last week’s strike by traders. The trading community had stopped participating in the auctions from last week, as a mark of protest against the Income Tax Department raids on large onion traders in Lasalgaon in Nashik, They were also protesting […]
The Reliance ADAG-anchored Indian Commodity Exchange (ICEX) started mock trading from Monday for five days to create awareness among existing and potential participants in the commodity value chain, and to herald the launch of diamond futures trade. The mock trading is aimed at addressing issues and doubts on such trade. Actual trading is likely from the end of August or […]
The U.S. Commodity Futures Trading Commission announced its unanimous approval of digital currency-trading platform LedgerX for clearing derivatives. LedgerX is a derivative-trading platform for bitcoin and other cybercurrencies like Ethereum’s ether. Initially it plans to clear bitcoin options, the commission said in a statement. The firm plans to launch bitcoin options in early fall, and ethereum options […]
January 1, 2017: Bitcoin was trading at $998.47. May 25, 2017: Bitcoin traded at $2,800. In less than five months, the price of this cryptocurrency jumped by a whopping 180%! The bitcoin price has more than doubled so far in 2017, climbing above $2,400. With the year that the bitcoin price is having, it’s hard […]