Mumbai's heavy rains are lifting India's first weather derivative. The RainMumbai contract has surged 30% since launch as strong monsoon activity fuels gains
Skymet Weather Services plans legal action against NCDEX over its rainfall futures launch, objecting to the exchange's partnership with IMD for the product
National Commodity and Derivatives Exchange launched India's first rainfall-based weather derivatives contract to help businesses hedge monsoon-related risks
Stock market holiday: Trading and settlement activities across the equity, equity derivatives, and Securities Lending and Borrowing (SLB) segments will be suspended on both exchanges
Late last year, the NCDEX and the MSE separately sought approval from the Sebi to launch and develop equity cash and derivative products, according to exchange disclosures
The exchange, which dominates agricultural commodity trading in India, received in-principle approval from the markets regulator in July to launch equity and equity derivatives trading
NCDEX has raised over Rs 500 crore with Citadel, Tower Research, Groww and JM Financial among investors as the exchange prepares to enter the equities market
With a strong rural connect, cutting-edge risk management systems, and a clear growth vision, the exchange sees vast untapped potential beyond India's metros, says Arun Raste
The tie-ups at present are mostly pro-bono arrangements, but the exchange wishes to monetise them in the future as and when it gets adequate experience and expertise
The agreement will enable knowledge transfer between the two exchanges where they will share expertise in product designing and development, trading systems and regulatory framework, sources said
Reliance Securities has also received approvals from the NSE, BSE, MCX, and NCDEX for transferring shares owned by existing promoter Reliance Capital to Hinduja-led Aasia Enterprises