National Multi Commodity Exchange of India Ltd

National Multi Commodity Exchange of India Ltd. (NMCE) was promoted in 1999 by a group of commodity-relevant public institutions, namely Central Warehousing Corporation (CWC), National Agricultural Cooperative Marketing Federation of India (NAFED), Gujarat State Agricultural Marketing Board (GSAMB), Gujarat Agro-Industries Corporation Limited (GAICL), National Institute of Agricultural Marketing (NIAM), and Neptune Overseas Limited (NOL).

NMCE commenced futures trading in twenty-four commodities on 26 November 2002 on a national scale and the basket of commodities has grown significantly to include cash crops, food grains, plantations, spices, oil seeds, among others. It is the only Commodity Exchange in the world to have received ISO 9001:2000 certification from British Standard Institutions (BSI).

NMCE was the first Exchange to take up the issue of differential treatment of speculative loss. It was the first to initiate process of dematerialization and electronic transfer of warehoused commodity stocks. It was also the first Exchange to enroll participation of high net-worth corporate securities brokers in commodity derivatives market.

NMCE was the first commodity exchange to provide trading facility via internet, through Virtual Private Network (VPN).

* Next: National Commodity and Derivatives Exchange