| Indian brokers said that a lack of oversight allowed the nation's biggest spot commodity exchange to stretch settlement dates, prompting a government clampdown that sparked a two-day, 73 per cent crash in its parent's shares.
The National Spot Exchange Ltd (NSEL) suspended some contracts after the government on July 14 asked the bourse not to start new obligations until further notice. The NSEL broke rules by allowing settlement longer than 11 days and permitting sale of goods traders didn't keep in its warehouses, according to the Forward Markets Commission (FMC), which regulates futures trading...............................................Full Article: Source
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