| From Indiatimes.com: The ministry of consumer affairs, which frames policy for the commodity futures market, has decided to cap the number of national level exchanges at eight. The decision has been taken in consultation with Forward Markets Commission (FMC), which is overseen by the ministry. FMC regulates trading on four national commodity bourses and 17 regional ones.
Accordingly, the third greenfield exchange proposed to be set up by Gontermann Peipers (India), which has been promoted by Pramod Mittal of the Ispat group, is the last one after which FMC will not accept any new applications to set up exchanges, according to BC Khatua, chairman, FMC..............................................Full Article: Source
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