National Spot Exchange is just a click away
NSEL intends to start operations by the end of March 2008, according to the offer document filed by MCX for its initial public offer.
By TNN |
MUMBAI: The National Spot Exchange (NSEL) intends to start operations by the end of March 2008, according to the offer document filed by Multi-Commodity Exchange of India (MCX) for its initial public offer. Senior officials at NSEL did not comment on the date of commencement of operations.
The exchange is promoted by software firm Financial Technologies India, which is also the promoter of MCX. Anjani Sinha, chief executive of NSEL, said in April last year that the exchange would start operations in Gujarat and Rajasthan by 2007 year-end.
The NSEL is the proposed second electronic spot exchange in India after the NCDEX Spot Exchange. Spot exchanges are expected to complement the 24 commodity futures bourses in the country, whose combined turnover is likely to cross $1 trillion during April-March 2008.
The exchange is promoted by software firm Financial Technologies India, which is also the promoter of MCX. Anjani Sinha, chief executive of NSEL, said in April last year that the exchange would start operations in Gujarat and Rajasthan by 2007 year-end.
The NSEL is the proposed second electronic spot exchange in India after the NCDEX Spot Exchange. Spot exchanges are expected to complement the 24 commodity futures bourses in the country, whose combined turnover is likely to cross $1 trillion during April-March 2008.
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