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NMCE expells 8 members, suspends 2 for fraudulent trading

NMCE expells 8 members, suspends 2 for fraudulent trading
PTI
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First Published: Tue, Aug 02 2011. 06 44 PM IST
Updated: Tue, Aug 02 2011. 06 44 PM IST
New Delhi: Commodity bourse NMCE has suspended two members and expelled eight members for fraudulent trading, the government said on Tuesday.
“National Multi Commodity Exchange (NMCE) has suspended two members and expelled eight members for fraudulent trading,” food and consumer affairs minister K V Thomas said in a written reply to Rajya Sabha.
A complaint regarding fraudulent transactions in the NMCE has been received, he said.
“Whenever any complaint is received, action is being taken,” the minister noted.
NMCE, which is the country’s fourth largest commodity bourse, was set up in 2003 and offers futures trading largely in rubber, base metals and some agricultural items.
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First Published: Tue, Aug 02 2011. 06 44 PM IST