End of Regional commodity exchanges: Hapur awaits Sebi nod for closure

Four other bourses had to shut shop earlier due to thin volumes and stringent Sebi norms

With the Securities and Exchange Board of India (Sebi) having refused to renew the mustard seed contract, Hapur Commodity Exchange Ltd (HCX), the last operational regional commodity exchange of the 22 that were in existence until a decade ago, awaits closure next month. 

Four exchanges, including Rajkot Commodity Exchange and India Pepper and Spice Trade Association have already shut shop. Hapur will be the fifth and last to exit after the merger of FMC with Sebi. Many others closed prior to that or merged with the bigger exchanges.  

“Days are over for regional commodity exchanges. The regulator wanted them