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India: National Spot Exchange suspends trading amid fears of default

Posted on 01 August 2013

National Spot Exchange (NSEL) has suspended trading of all contracts, other than e-Series and deferred the settlement, sparking fears of cash crunch and default of payment in the Financial Technology-promoted commodity bourse. The exchange has blamed the government for the structural changes it has instructed a few weeks back for creating market disequilibrium.
While NSEL officials were unavailable for comments, brokers said that the exchange has stopped payouts on Wednesday due to financial crisis, which could impact operations of many of the brokers who are into commodity trading on Thursday………………………………………..Full Article: Source


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