The Hindu Business Line : NCDEX begins spot exchange mock trading

"We are witnessing good participation from traders on the mock trading platform. Till now there are no major glitches and the connectivity is good. Since it is considered inauspicious till January 15 we have slated the launch for the second half of January," said Mr P.H. Ravikumar, MD, NCDEX.

MCX, which has floated the National Spot Exchange for Agriculture Produce (NSEAP), is also planning to launch a spot exchange by January-end from Rajasthan.

"We will be investing Rs 50 crore in our new venture. The technical work on the launch is nearing end after which we will be undertaking mock trading," said Mr Anjani Sinha, CEO, MCX.

Guarseed and mustard are the major commodities in Rajasthan, while potato is the largest traded commodity in West Bengal. There will be a minimum cost for delivering goods on the electronic spot exchanges.

"Traders can make good the cost by realising a better price for their produce as they can sell their produce to the entire country on the electronic national spot exchange," said Mr Ravikumar.

The free movement of commodities from one State to another has not yet become a reality as several governments have expressed reservations. The Prime Minister, Dr Manmohan Singh, recently called upon State Governments to make the country a common Indian agriculture market with no restrictions on commodity movements.

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