MUMBAI (Reuters) - The National Spot Exchange Ltd (NSEL) has physical stock worth 62 billion rupees compared to total outstanding contracts of 55 billion rupees, the chief executive of the commodities exchange, Anjani Sinha, told CNBC-TV 18 on Thursday.
"My stock is more than sufficient to cover the overall exposure. There is nothing to worry for participants members or clients," Sinha told CNBC-TV18, adding the exchange has 8 billion rupees in a guarantee fund.
Sinha added NSEL will announce the pay-in and pay-out by Friday at the latest.
The spot exchange on Thursday suspended trading in its one-day forward contracts till further notice, and decided to merge the delivery and settlement of all pending contracts and deferred it for a period of 15 days.
(Reporting by Rafael Nam & Siddesh Mayenkar)
