ICEX turnover jumps 5-fold in 6 months to Rs 5,333 crore

commodity exchange
ICEX is a leading commodity exchange

Indian Commodity Exchange (ICEX) has recorded a five-fold increase in turnover in the last six months, largely due to robust trading in diamond contracts. Daily turnover on the exchange hit a lifetime high of Rs 418 crore on February 27.

A very limited quantity of Indian Commodity Exchange (ICEX) shares are available at attractive rates on first cum first serve basis. Offer valid till stocks last.  Please call on 8108303330 for more details.

The largest commodity exchange in diamond futures trading has seen a steady increase in turnover from Rs 1,090 crore logged last September to a high of Rs 5,332 crore in February. Nearly 85% of the turnover generated in February was attributed to trading in diamond futures contracts, which were launched on the platform in August 2017.

Traded only on ICEX, the diamond contract provides a hedging tool for exporters. Turnover of the diamond futures contract on the exchange increased over 14 times in the last six months to Rs 4,531.50 crore in February from about Rs 318 crore.

Sanjit Prasad, CEO, ICEX, said several factors, including price volatility, launch of new commodities for trading and change in contract design in the flagship diamond contract contributed to the increase in turnover. Last month was a record-breaking month for ICEX in terms of daily turnover till date, he added.

The exchange recorded an average daily volume of Rs 267 crore in February, five times higher than the Rs 55 crore logged last September. The exchange has handled diamond delivery of 980.45 carats since November 2017, of which 127.67 carats was delivered in March.

Source: Economic Times, The Hindu Business Line

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Sebi allows MFs, PMS to invest in commodity derivatives

commodity exchange
Indian Commodity Exchange is SEBI regulated Exchange.

Sebi has allowed mutual funds and portfolio management services (PMS)  to trade in commodity derivatives. This is likely to boost turnover of Indian Commodity Exchange (ICEX). Rival MCX expects 15-20% volume growth to be maintained with entry of MFs and PMS in FY20.

A very limited quantity of Indian Commodity Exchange (ICEX) shares are available at attractive rates on first cum first serve basis. Offer valid till stocks last.  Please call on 8108303330 for more details.

Sanjit Prasad, CEO, Indian Commodity Exchange (ICEX), said adding commodities in investors’ portfolios involves some risk but the overall risk adjusted returns of the portfolio may improve. “The ICEX platform will enable them to participate in unique commodities such as diamonds where we have seen a healthy growth in terms of participation and open interest,” he said.

ICEX

Sebi allows MFs, PMS to invest in commodity derivatives

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PSU e-commerce firm MSTC files IPO with Sebi

MSTC Ltd
MSTC ltd is a PSU e-commerce company

MSTC Limited, a Mini Ratna works under Ministry of Steel, has filed the draft red herring prospectus with market regulator Securities and Exchange Board of India (Sebi) on January 31 for the public issue.

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