Nair joins commodity exchange as director

May 19th, 2008 - 9:50 pm ICT by admin  

Ahmedabad, May 19 (IANS) G.N. Nair, director (finance) of the Central Warehousing Corporation (CWC), was Monday appointed director of the National Multi-Commodity Exchange (NMCE) representing his organisation. NMCE board of directors at its meeting accepted the resignation of Ajay Khera as the CWC’s nominated director. It also approved renewal of Rajnikant Patel, managing director of the Bombay Stock Exchange (BSE), as professional director of NMCE.

Reiterating BSE’s commitment to NMCE as a strategic partner, Patel said his exchange would motivate its brokers and sub-brokers to undertake commodities futures trading on NMCE and assist the company in technology upgradation and professionalism.

Meanwhile, NMCE has sought the permission of the Forward Markets Commission (FMC) to settle the outstanding positions in rubber contracts following the government decision to suspend futures trade in rubber and three other commodities from May 7.

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