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UCX suspends trade within 18 mths of launch

Posted on 17 July 2014

Within 18 months of commencing operations, IT People-promoted Universal Commodity Exchange (UCX), India’s sixth nationwide commodity futures trading platform, has suspended trade in all commodities, with immediate effect. With this, UCX became the second exchange to suspend futures trade in commodities. Early this year, MMTC-Indiabulls-promoted and Reliance Group-anchored Indian Commodities Exchange (ICEX) had suspended trade.
In a circular, UCX said, “Due to prevailing market conditions, it has been decided to suspend the trading activities of the exchange temporarily, subject to the approval of the regulator Forward Markets Commission (FMC) till the time a renewed plan is put in place.”……………………………………….Full Article: Source


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