NCDEX, CDSL planning July launch for commodity repositories

The move will pave way for trading and financing against electronic warehouse receipts

Repositories in the commodities business are set to start operations in July if everything goes to plan.

This is expected to give a boost to trading in electronic warehouse receipts and financing against commodities. The Warehouse Development and Regulatory Authority (WDRA) has licensed two players to launch repositories, which will do record keeping the way depositories function for equities and other financial instruments. Both the licensee agri-centric commodity exchange National Commodity and Derivatives Exchange (NCDEX) and BSE-owned Central Depository Services Ltd (CDSL) are working on meeting the July target.

According to the original timelines, repositories are supposed to start work