India’s National Spot Exchange goes live

India’s National Spot Exchange goes live

Mumbai: India’s National Spot Exchange Ltd started live trading from Wednesday, its Chief Executive Anjani Sinha told Reuters.

The exchange has started trading in gold, gold mini and silver with Ahmedabad, in the western Gujarat state, as the delivery centre.

Trading in agri commodities began in cotton with Mumbai as the delivery centre, Sinha said.

The physical commodities electronic exchange started operations after a delay of more than a year.

National Spot Exchange Ltd, founded by a consortium including Financial Technologies India Ltd and National Agricultural Cooperative Marketing Federation of India (NAFED).

Financial Technologies also promotes Multi Commodity Exchange of India, the country’s biggest commodity bourse by trade turnover by value and contracts traded.