Universal Commodity Exchange (UCX) – India’s 6th Commodity Exchange goes live
India’s 6th countrywide commodity futures trading platform — Universal Commodity Exchange (UCX) went live. The exchange has enrolled over 200 members for trading on its platform which it expects issuance of unparalleled trading code by the markets regulator the Forward Markets Commission (FMC).
- UCX is based in Mumbai
- Founder of UCX: Ketan Sheth
The launch of a new exchange UCX, nevertheless, is set to escalate competition among the commodity trading platforms. Interestingly, traders would gain from inter-exchange and inter-contract arbitrage chances.
The commodity futures platforms in India:
|Indian Commodity Exchange Limited (ICEX)||Energy, Precious Metals, Base Metals, Agricultural, Fibers, Oils & Oilseed Complex, Minerals, Other Agro Products|
|Multi Commodity Exchange (MCX)||Bullions, Metals, Energy, Oil & Oil Seeds, Spices, Pulses, Fiber, Weather, Plantations, Other|
|National Commodity and Derivatives Exchange (NCDEX)||Plantation Products, Cereals and Pulses, Oil and Oil seeds, Fibres, Guar Complex, Spices, Soft, Metals, Precious Metals, Energy, Others|
|National Multi-Commodity Exchange of India Ltd (NMCE)||Oils and Seeds, Spices, Pulses, Precious Metals, Base Metals, Others|
|Ace Derivatives & Commodity Exchange Ltd. (ACE)||Oil and Seeds, Pulses, Fiber, Others|
|Universal Commodity Exchange (UCX)||Bullion and Metals, Energy, Agricultural|
Categories: Business & Economy Current Affairs 2017