Mumbai, Jul 30 (UNI) National Spot Exchange Limited (NSEL, India's first online spot trading platform, today commenced mock trading in commodities on Pan-India basis.
Speaking to mediapersons NSEL MD and CEO Anjani Sinha said NSEL has obtained license for trading from governments of Maharashtra, Karnataka and Gujarat and has entered into MOU with Rajasthan and Madhya Pradesh governments.
He said the mock trading is a replica of the systems and procedures used for live trading to enable all members to be ready to commence trading on day one. He said the trade will commence in commodities like arecanut, black pepper, castor seed, coriander, cummin seed, cotton, gold, rubber, silver, and others.
NSEL, which has more than 500 entities from India, has enviced interest and 225 entities have submitted their applications. NSEL is poised to go live by end of August, he added.
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