| From iht.com: A growing trade in metals and energy has propped up Indian commodity exchanges despite a ban on farm futures, and volumes are set to grow even more as investors scramble for safer assets amid weakening financial markets.
Buoyed by a rapid-fire approach to new contracts, the Multi Commodity Exchange, or MCX, has taken the lead in commodity trading in India. It was valued at $1.1 billion when Citigroup and Merrill Lynch each bought 5 percent stakes in the exchange last year.
The second-largest commodities market, the National Commodity & Derivatives Exchange, or NCDEX, has watched its fortunes wither this year. The volume of its trading, which focuses on agricultural products, dropped by a third after the government banned contracts for eight commodities, including heavily traded wheat, soy oil and chickpea contracts. Goldman Sachs and IntercontinentalExchange hold minority stakes in the company...... Full Article: Source |