After starting online trading in edible oils, the Bombay Commodities Exchange is now joining hands with HDFC Bank and Global Trust Bank to facilitate fund transfer through electronic banking to expand its futures trade to other cities.
The exchange is also in talks with Dow Jones to access commodity prices of Chicago Board of Trade (CBOT) and Kuala Lumpur Commodities Exchange (KLCE) in order to expand globally.
The Bombay Commodities Exchange (BCE) has also applied to the Forwards Markets Commission for permission to start tea futures. It is currently discussing the possibility of joint trading in palm oil with Malaysia.
Speaking to Business Standard, Anjani Sinha, chief executive officer of the exchange, said: