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The National Multi-Commodity Exchange (NMCE) has decided to merge with the Indian Commodity Exchange (ICEX), creating the third-largest commodity exchange in the country.
The merger — discussions for which had been going on for the past few months — was jointly announced on Monday by the two exchanges after the proposal was approved by the boards of both exchanges.
The merged entity will have a net worth of around Rs 200 crore, while its total capital base will be Rs 553 crore. It will offer a wide range of contracts, including bullion, oil and rubber, besides the world’s first diamond
