| From Hindu.com: National Commodity & Derivatives Exchange Limited (NCDEX) will expand the menu of products for trading. R. Ramaseshan, NCDEX Managing Director and CEO, said 54 commodities were being traded now. These include agricultural products, bullion, metals and energy. NCDEX will set up a power exchange by October this year. It is not planning to enter currency exchange. The commodity exchange will introduce a warehouse management system in a bid to facilitate trouble-free trading.
He said NCDEX was planning to incorporate best practices in the world commodities trade. It would encourage investors and corporates to use the exchange platform for investing and hedging. The Indian farmer would be in a position to choose his cropping pattern based on the futures prices disseminated by the exchange, rather than the practice of sowing a particular crop based on current prices. The challenge is to first reach the farmer, educate him and convince him of the utility of adopting the future prices...... Full Article: Source
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