 "Merger")
Consolidation in India's exchange space is set to begin with two exchanges - one relaunching trading and another falling short of net worth - are considering a proposal to merge. The proposal is a win win for both the exchanges as Ahmedabad based National Multi Commodity Exchange (NMCE) and Mumbai based Indian Commodity Exchange (ICEX) have good synergy if they merge. According to knowledgable sources, leading accounting firm Ernst & Young (EY) has been appointed to do due diligence which will decide valuation of the exchanges, share swap ratio and perhaps name of the merged entity.
ICEX had suspended trading in
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