National Spot Exchange
From Wikipedia, the free encyclopedia
| National Spot Exchange Ltd | |
|---|---|
| Type | Private |
| Founded | 2005 |
| Headquarters | Mumbai, India |
| Key people | Jignesh Shah, Vice Chairman ; Mr. Anjani Sinha - MD & CEO |
| Industry | Business Services |
| Products | Spot exchange |
| Website | www.nationalspotexchange.com |
National Spot Exchange is an commodity exchange in India that is a joint venture of Financial Technologies (India) Ltd. (FTIL), Multi Commodity Exchange (MCX) and National Agricultural Cooperative Marketing Federation of India Limited (NAFED). The first phase of the 2007 launch is planned to provide centres in Gujarat, West Bengal and Kerala.
Its stated mission is to develop a Common Indian Market, by setting up a national level electronic spot market and providing a state of art trading, delivery and settlement facilities in various commodities, which can be accessed from across the country.
National Spot Exchange is also collaborating with National Bulk Handling Corporation Ltd (NBHC). NBHC was setup to provide state of the art bulk-storage and handling facilities to agricultural commodities.
[edit] Importance of National Spot Exchange
- Online price discovery for all markets
- Better price realization for farmers and traders.
- Warehouse receipt financing.
- Increasing in bargaining power. Farmers can get his own selling price.
- Market Intelligence Report.
- Increase in holding capacity. Farmers can enjoy off-season premium after availing bank loan against warehouse receipt instead of selling his produce suring harvest season.
- Integrate the Fragmented Markets Electronically
- Easy procurement of multiple commodities at multiple centers from one centre
- Efficient Spot Price Discovery, Price Dissemination Small Producers and Traders get equated with large consumers or Traders
- Reduction in Number of Intermediaries involved
- Availability of Warehouse Receipt Financing
- Grading, Quality Certification and Standardization of Commodities
- Availability of Multiple Contracts with Multiple Delivery Centers
- Trade and Payment guarantee
- Transparent Spot Price available for DDR calculation
