The Indian Commodity Exchange (ICEX) is set to fold due to plummetting trading volume as a result of the government's failure to liberalise and investors retreat from futures markets after a major financial scandal at another exchange last year. It will be the first to go, in what has become an overcrowded segment since India first allowed futures trading in commodities in 2003. Launched a little over four years ago, ICEX grew to become India's fourth largest commodity exchange and its demise would be symptomatic of a wider malaise. Confidence in India's commodity markets suffered a massive blow last July, when the National Spot Exchange Ltd (NSEL)abruptly suspended trading in most of its contracts.
via Business News - Yahoo Finance http://ift.tt/1bBJugu
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