After sebi nod, icex to start live trading again by end of august

After Sebi nod, ICEX to start live trading again by end of August

LATEST MARKET NEWS - Indian Commodity Exchange Limited (ICEX), the Reliance Capital-anchored national online derivatives exchange for commodities, has received the Securities and Exchange Board of India's (Sebi's) approval to re-commence live trading operations.

ICEX said in a media note that it has successfully complied with all Sebi-mandated norms prescribed for commodity exchanges.

"With all requisite approvals in place, ICEX is poised to go live by end-August 2017," said Sanjit Prasad, MD and CEO of ICEX. Last week, the exchange announced its merger with Ahmedabadbased National Multi-Commodity Exchange.

The exchange has already received Sebi's approval to launch its diamond futures contract, which is the first of its kind in the world.

The exchange has all the necessary infrastructure to handle deposits, grading and sealing, vaulting and deliveries of diamonds as part of its preparation to launch the diamond contracts.

Prior to its launch, ICEX will be stepping up enrolment and training of members, conducting mock trials, etc.

ARTICLE SOURCE – BUSINESS STANDARD