New Indian Commodity Exchange to go live within a week
India's fourth national commodity exchange, the Indian Commodity Exchange (ICEX), is set to go live in less than a week's time, Reuters have reported
The exchange will launch 10 contracts, including five agricultural products in addition to gold, silver and crude oil.
ICEX is jointly owned by five different institutions including Indiabulls Financial Services and India's biggest state-run trading firm, MMTC, who own a 40% and 26% share respectively.
ICEX's chief executive officer, Ajit Mittal, told Reuters ICEX has 250 members and is planning to attract new participants once the exchange opens for trade.
India has three national level
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