Ace completes first delivery on exchange

Ace Derivatives and Commodity Exchange, a Kotak Group-anchored commodity exchange, has said it has successfully completed its first delivery on the exchange platform.

In its first settlement, Ace Commodity Exchange handled a delivery of 4,728.951 tonnes, valued at Rs 12.78 crore.

Mustard seed contract resulted in the delivery of 3,103 tonnes with a value of Rs 8.77 crore, while chana contract in the delivery of 1,626 tonnes with a value of Rs 4.01 crore, ACE said in a statement here.

"In its very first settlement, Ace has smoothly handled a huge delivery volume demonstrating the confidence of market participants on the Exchange. This feat has been possible because of the robust and efficient warehouse and delivery mechanism adopted by the exchange," Ace CEO Dilip Bhatia said.