Indian Commodity Exchange (ICEX) is likely to launch operations on November 23 with 10 contracts in the farm and non-farm space, a source familiar with the development informed. “Most pre-launch formalities such as finalising the bye-laws and a few regulatory approvals are at a final stage, and the exchange may go live on Nov 23,” the source said.
When contacted, Forward Markets Commission Chairman BC Khatua confirmed that the exchange’s bye-laws would be cleared by the regulator in a couple of days, followed by approval for contracts applied by ICEX.
The exchange has applied for gold, silver, natural gas, crude oil, copper cathode, and lead contracts. In the farm sector, it has sought approval for guar seed, mustard, soyoil, soybean, and turmeric contracts. Within gold, the exchange plans to launch one kg, and 100 gm gold mini contracts, he said.