Unfit for consumption
The Indian authorities' decision to extend its ban on a further four commodity futures contracts in May has got market participants worried about the ruling's impact on the long-term development of the futures market. By Sarfraz Thind
India's commodity derivatives market has been around since the late 19th century. But, despite this early start, trading of most commodity options and forwards in the country has been banned for at least a third of this time.
The last suspension of commodity derivatives came in the 1960s and was only lifted in 2003 by the country's commodity exchange regulator, the Forward Markets Commission (FMC). But no sooner had the market begun to see some significant volumes - largely through the efforts of
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