FMC nod to NCDEX’s forward contracts

MUMBAI: National Commodity and Derivatives Exchange is likely to get the Forward Markets Commission’s approval this week to launch forward contracts on the bourse, FMC Chairman Ramesh Abhishek said. “We may give our approval to the proposal in two-three days,” he told Cogencis. Initially, NCDEX will launch forward contracts in sugar and maize, Abhishek said.