NCDEX ties up with NSE Indices to launch AGRIDEX

News:The National Commodity and Derivatives Exchange(NCDEX) has tied up with National Stock Exchange(NSE) to launch India’s first agri index ‘NCDEX Agridex’.

Facts:

About Agridex:

• The index represents a basket of ten commodities that are selected based on both liquidity and its importance in Indian and global commodities market.
• The index will be made tradable after being approved from the Securities and Exchange Board of India(SEBI).
• The index has tied up with NSE Indices which will maintain and disseminate real time NCDEX Agridex values.

Significance of Agridex:

• As index represents a diverse basket of commodities,it is less risky and more predictable compared to individual commodity.
• Futures trading on Agridex will also enhance overall liquidity on the exchange platform.

Additional information:

About NSE:

• The National Stock Exchange of India Limited (NSE) is the leading stock exchange of India,located in Mumbai.
• The NSE was established in 1992 as the first demutualized electronic exchange in the country.

About NCDEX:

• National Commodity & Derivatives Exchange Limited (NCDEX) is an online commodity exchange based in India.
• It is a public limited company incorporated in 2003 under the Companies Act,1956.
• It has an independent board of directors and provides a commodity exchange platform for market participants to trade in commodity derivatives.