After Sebi nod, NCDEX to re-launch chana futures on Friday

In June 2016, Sebi had directed NCDEX to discontinue chana futures to prevent further price hike

Paving way for the re-launch, the Securities and Exchange Board (Sebi), the markets regulator,  has granted approval for re-introduction of chickpea (chana) contracts to the National Commodity & Derivatives Exchange (NCDEX).

Informed sources said that the exchange would re-launch chana contracts with almost same contract specifications on Friday.

A precautionary measure, the regulator in June 2016 had directed NCDEX to discontinue chana futures from the exchange platform to prevent its further price spike. Following Sebi's direction, the exchange had put all futures contract on the square off mode and deferred all new contracts to be launched then.

The re-launch of chana contracts assumes significance as the commodity was one of the top contributors to the exchange turnover.

An email sent to NCDEX did not elicit any response.