On August 1, the National Commodity & Derivatives Exchange Ltd (NCDEX) stated that starting on August 14, the trading hours for the commodity derivatives section will alter. In a circular issued on Tuesday, NCDEX stated that “the trade timings and client code modification timings at the exchange shall be revised with effect from Monday, August 14, 2023, until further notice.”
The segment’s trading hours are currently between 9 am and 5 pm. The most recent amendment will shift the hours to 10 am to 5 pm. According to NCDEX, the updated client code modification hours are 10 am to 5:15 pm, with “the pre-Open session shall be from 9:45 am to 10 am for all commodities.”
While MCX has leadership in the gold, metals, and oil markets, NCDEX is primarily an exchange with leadership in the agro commodities categories. In the category of commodities with the highest volume of trading, it is different from the Multi Commodity Exchange of India (MCX).
On April 19, 2023, NCDEX launched future contracts for Isabgol seeds earlier this year. Following a 13-year hiatus, the exchange started offering groundnut futures contracts last month. Additionally, it began trading in spice options on July 15.
Cereals and pulses, oil and oil seeds, fibers, soft spices, guar seeds, and other products are listed for prospective contracts on the company’s website. The trading of the Robusta Cherry (AB) coffee future contract begins on September 30.
The commodities exchange platform was established as a public limited company in April 2003, and it started operating as a recognized association under The Forward Contracts (Regulation) Act of 1952 in December of that same year.
The National Bank for Agriculture and Rural Development (NABARD), Life Insurance Corporation of India (LIC), National Stock Exchange of India Limited (NSE), and Canara Bank are a few of the company’s significant owners.
