Agridex represents produce grown in India and is not linked to any external benchmark; it will be available initially for trading of contracts expiring in June, July, September and December
As per the existing plan, soybean would have the highest weightage in the commodity index followed by chana, guarseed and refined soyoil
Chances of huge defaults by investors, many of whom are retail traders gone long; On Nymex, there were actual trades in minus in which sellers were actually paying buyers to lift stocks
All the five exchanges, including the MCX, NCDEX, and the ICEX, have capped trading timings to 5 pm. The MCX reports maximum trading in the evening session
The regulator said exchange can be master in one instead of jack of all
Build India Capital Advisors, Canara Bank, Indian Farmers Fertiliser Cooperative, Investcorp Private Equity Fund I are among the selling shareholders
PXIL faced financial crisis in 2017 when its net worth eroded and promoters of NSE and NCDEX wanted to shut it down prior to NSE's proposed initial public offering (IPO)
Leading commodities such as guar seed, guar gum, soybean, chana, mustard seed, and jeera, etc, will be the index's constituents
NCDEX said it will launch tradable futures contracts on AGRIDEX on receipt of the regulator Sebi's approval
Exchange says it's strengthening risk management, seeking feedback
Market regulator has asked exchange to deliver foolproof product that suitably maps temperature and rainfall, besides addressing a host of other issues
The index will have 10 Sebi-approved agri commodities. Once open for trading, the NCDEX index for agri and MCX index for non-agri commodities will theoretically complete a basket
NCDEX already has wheat and maize futures on its platform
NCDEX is also looking for partners to professionally managing index calculation and maintenance on its behalf
Apart from NSE, the largest shareholder with 15% stake, there are other investors who have been holding stakes since 2003. Some of them now want to flog their stakes
The exchange currently generates a daily turnover of Rs 40 million in guarseed option
NCDEX will propose to the regulator to allow options in more agri commodities
NCDEX is in the final stage for launching of its clearing corporation
He had also worked at NCDEX as chief business officer between June 2009 to September 2014
NCDEX is also considering location-spread contracts for agri commodities