NCDEX's 381 warehouses complete WDRA accreditation

Commodity exchange NCDEX today said it has completed the Warehousing Development and Regulatory Authority (WDRA) accreditation process for its 381 warehouses.
The move is aimed to strengthen the physical delivery ecosystem of commodity futures market and will also give comfort to depositors, value chain participants and the statutory authorities of the the domestic commodity markets, National Commodity and Derivatives Exchange (NCDEX) said in a statement.
The exchange has completed the WDRA accreditation process for its 381 warehouses, the statement added.
"Driving next generation warehousing reforms, aimed at developing a robust and transparent ecosystem, has always been our biggest priority," NCDEX MD Samir Shah said.

The exchange-approved warehouses serve as a transparent system to track all the goods being deposited and delivered on its platform.
The electronic accounting of commodities stored in NCDEX approved warehouses, across geographies, through its Comtrack system is very important tool for policy makers, especially during the challenging demand-supply situations in the country, it added.
Additionally, to bring more transparency in booking warehouse space, NCDEX has developed and implemented an online Warehouse Space Reservation (WSR) system which allows registered clients participating on the exchange platform to view and book warehouse space online.
Markets regulator SEBI has made WDRA accreditation mandatory for all the warehouses under commodity exchanges.