Q. Which Indian commodity exchange will merge with Indian Commodity Exchange (ICEX)?
Answer of this question "Which Indian commodity exchange will merge with Indian Commodity Exchange (ICEX)?", here are 4 choices for this question : Universal Commodity Exchange, National Commodity and Derivatives Exchange, National Multi-Commodity Exchange of India Ltd, Multi Commodity Exchange. Answer Is "National Multi-Commodity Exchange of India Ltd".
The National Multi Commodity Exchange (NMCE) will merge with Indian Commodity Exchange (ICEX) to create India’s third largest commodities exchange. The merger, which is subject to regulatory approval, is expected to be completed by December 2017. ICEX’s shareholders will hold a 62.8% stake in the merged entity while the balance will be held by shareholders of NMCE. The proposed merger will offer a range of contracts including bullion, oil, rubber and other agri-commodities. The exchange will also offer the world’s first diamond futures contract, which has already received “in-principle” approval from the regulator. The NMCE is the India’s first demutualised online national multi-commodities exchange.