MCX stands for Multi Commodity Exchange of India Limited and is headquartered at Mumbai. It is state-of-the-art electronic commodity futures exchange. The demutualised Exchange is set up by Financial Technologies (India) Ltd (FTIL) and it has permanent recognition from the Government of India to facilitate online trading, and clearing and settlement operations for commodity futures across the country. It started its operations in November 2003 and now it has a market share of over 80% of the Indian commodity futures market, and has more than 2000 registered members operating through over 100,000 trader work stations, across India. It is pertinent to note that Exchange has also emerged as the sixth largest and amongst the fastest growing commodity futures exchange in the world, in terms of the number of contracts traded in 2009.
The timings for the trade at the exchange are as stated below:
MCX Commodity Trading Timings
|Normal Session||Agri||Monday to Friday||10:00 AM TO 05:00 PM|
|Normal Session||Agri||Saturday||10:00 AM TO 02:00 PM|
|Normal Session||Non-Agri||Monday to Friday*||10:00 AM TO 11:30 PM|
|Normal Session||Non-Agri||Saturday||10:00 AM TO 02:00 PM|
|Special Session||All Commodities||Monday to Saturday||09:45 AM TO 09:59 AM|
National Commodity & Derivatives Exchange Limited (NCDEX) is a national level on-line multi commodity exchange which commenced operations on December 15, 2003. It offers futures trading in both agriculture and non-agriculture commodities. The Exchange has eight shareholders: Canara Bank, CRISIL Limited, ICICI Bank Limited, IFFCO, LIC, NABARD, NSE and PNB. All the shareholders bring along with them expertise in closely related fields such as risk management (CRISIL), rural bank network (Canara Bank in the south and PNB in the north), technology (ICICI Bank), agriculture (NABARD), on-line trading technology and derivative trading (NSE), market reach (IFFCO which has the largest number of farm cooperatives) and expertise in institution building (LIC).
NCDEX Commodity Trading Timings
|Normal Session||Agri and Coal||Monday to Friday||10:00A.M TO 05:00P.M|
|Normal Session||Saturday||10:00A.M TO 02:00P.M|
|Normal Session||Non-Agri||Monday to Friday||10:00A.M TO 11:55P.M|
|Intra day square off||Not Allowed||Not Allowed||Not Allowed|
|Off line order Timing||Not Allowed||Not Allowed||Not Allowed|