Govt approves MMTC-Indiabulls commodity exchange

New Delhi, Jul 20: State-owned trader MMTC Ltd and Indiabulls Financial Services Ltd have received approval from the government to set up a multi-commodity exchange in the country.

The Forward Markets Commission has given 'in-principle' approval to MMTC's proposal for setting up the exchange in Gurgaon in partnership with Indiabulls, the two companies said in the statements.

After Multi Commodity Exchange, National Commodity and Derivatives Exchange and National Multi Commodity Exchange of India, it will be the fourth national-level commodity exchange.

UNI