ICEX does business of Rs 2,559 crore in four days

Commodity exchange ICEX made a business of Rs 2,559 crore in just four days after it went live on November 27, the market regulator Forward Markets Commission (FMC) said today.

The turnover of the Indian Commodity Exchange (ICEX), a national-level bourse, stood at Rs 2,559 crore during November 27-30, the FMC said in its fortnightly report.

The exchange has made maximum business in gold at Rs 1,093 crore, followed by crude oil (Rs 656 crore), copper (Rs 457 crore) and silver (Rs 323.42 crore) in the first four days, it said.

About 6,195 kg of gold and 1,14,330 kg of silver were traded on the exchange platform, it added. ICEX started trading operation on November 27 with six commodities, including gold, silver, crude oil and guarseed.

The exchange has got permission for launching a dozen contracts. The futures contract in rest of the commodities such as mustard seed, turmeric, soy bean, gold 100 grams, silver 5 kg, natural gas, and lead are yet to be offered.

ICEX is promoted by PSU MMTC and Indiabulls Financial Services. Indiabulls owns 40 per cent stake in the exchange, while MMTC holds 26 per cent. Indian Potash has 10 per cent and KRIBHCO and IDFC have 5 per cent stake each in the exchange.