NCDEX and BBA joint hands to strenghten the bullion futures trade
Mumbai, Mar 5 (UNI) National Commodity and Derivatives Exchange (NCDEX) and Bombay Bullion Association (BBA) has signed a Memorandum of Understanding (MoU) for daily future on line trading in gold and silver sections.
NCDEX MD and CEO P H Ravikumar said here yesterday that, ''This asssociation will go a long way in developing the bullion market in India which is presently trading only a fraction of the potential, and it will provide a plethora of opportunities to every bullion trader to trade in various commodities on this platform.'' BBA President Mukul Sonawala stated that ''This association between NCDEX and BBA would lead to exponential growth in bullion future trade on the exchange. One of the key objectives on this association would be to facilitate a shift of price discovery to the Indian market.'' India is the world's largest consumer of gold in the global markets. This association will create a healthy market in balancing the physical and the futures, Mr Sonawala added.
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