NMCE jumps five places as 14th largest commodity exchange in world

Ahmedabad, Feb 09 (UNI) As per an UNCTAD survey, the Ahmedabad-based National Multi-Commodity Exchange (NMCE) has jumped five places as the 14th largest commodity exchanges in the world by 'contract volumes' in 2006, up from 19th in 2005.

In all, 10.154 million one-sided (20.309 million double-sided) contracts were traded on NMCE terminal in 2006, as against 1.592 million one-sided contracts in 2005 - a whopping rise of six time or 525 per cent to be precise, a NMCE release here today said.

The findings have been communicated by Geneva-based United Nations Conference on Trade and Development (UNCTAD) associate economic affairs officer (commodities branch) Adam Gross, who has also congratulated NMCE for its 'outstanding performance' in 2006.

The feat is found to be all the more exciting for NMCE, as this country's first fully-electronic multi-commodity exchange with nationwide reach was launched just four years back on November 26, 2002. It is a record during 2006 as no other exchange jumped more than three slots.

The exchanges, which NMCE had left behind over a period of last year one year, included Euronext LIFE, Kansas City Board of Trade (KCBT), Winnipeg Commodity Exchange (WCE, Canada) and SAFEX/JSE of South Africa.

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