NCDEX, Metaljunction deal for coal trading

National Commodity & Derivatives Exchange (NCDEX) has tied up with
Metaljunction Services to create a spot trade platform for coal.

The business arrangement would facilitate NCDEX to start futures on non-coking coal, iron and steel (MS ingot), non-ferrous metals (except those which have already been launched) and petroleum products.

There has been no spot trade in petroleum products so far except purchases  by companies directly. The new arrangement would help create a platform for easy and hassle-free spot trade of petroleum products.

Talks are still on for finalising the revenue sharing mechanism.