Indian Commodity Exchange Limited or ICEX is a SEBI regulated online Commodity Derivative Exchange, headquartered at Mumbai.
ICEX provides a nationwide trading platform through its appointed brokers for commodity trading in India.
ICEX launched the world’s first-ever Diamond derivatives contract of 1 carat in August 2018.
Overview of Indian Commodity Exchange Limited
The Indian Commodity Exchange Limited (ICEX) started its operation in August 2017. After a year, on August 28 2018, the exchange launched its steel long contract.
In 2018-2019, the National Company Law Tribunal (NCLT) sanctioned the amalgamation of the NMCE with ICEX. (National Multi Commodity Exchange of India Limited with Indian Commodity Exchange Limited)
On 11th July 2019, ICEX launched ‘Paddy Basmati’ Derivatives Contract.
ICEX helps farmers in key aspects like price discovery, risk management. Also, allows them to trade in derivative contracts which are not available in MCX.
Commodity Products Baskets for ICEX
ICEX offers commodity trading in the following commodities:
1. Agro Products:
2. Non-Agro Products
ICEX Market Timings – Trading Sessions
The ICEX is open 5 days a week i.e. from Monday to Friday with different timing for agro and non-agro commodities.
Who can become a member of Indian Commodity Exchange Limited (ICEX)?
Registered partnership firm
Hindu Undivided Family or HUFs
Private limited company
According to market participants, Indian Commodity Exchange Limited (ICEX) has different categories of membership.
Trading and clearing membership
Professional clearing membership
Institutional trading and clearing membership
Indian Commodity Exchange Limited (ICEX) Membership process
Submission of the application form.
Evaluation of the documents submitted.
Allotment of the membership code.
The application goes under processing
Issue of certificate