| Type | Commodities exchange |
|---|---|
| Location | Mumbai, India |
| Founded | 2012 |
| Owner |
|
| Key people | Ketan Sheth |
| Currency | Indian rupee (₹) |
| Website | ucxindia |
Universal Commodity Exchange (UCX) was India’s sixth national level commodity exchange. [4][5] It went live in 2012 but was shut down by the regulator in 2014.[6]
It was promoted by IT Professional Ketan Sheth from Commex technology Ltd (40%) and institutions such as IDBI Bank (10%), IFFCO (15%), National Bank for Agriculture and Rural Development (16%), Rural Electrification Corporation (16%) are shareholders in the bourse.[7][8][9]
It received Ministry approval and Government certification on 30 August 2012. UCX started its operations on 19 April 2013 with 11 contracts in 9 commodities under the leadership of Praveen Pillai as UCX Managing director and CEO.[10]
References
[edit]- ^ "UCX". ucxindia.com. Retrieved 8 August 2014.
- ^ Sahgal, Ram (14 March 2012). "Nabard buys 16% in Universal Commodity Exchange for 16 crore". The Economic Times. Retrieved 1 June 2022.
- ^ "IDBI bank buys 10% in UCX for Rs 10 crore". The Economic Times. Retrieved 8 August 2014.
- ^ "Universal Commodity Exchange 6th in the country goes live". samachar.com. Retrieved 8 August 2014.
- ^ "Ketan Sheth's promoted UCX gets Consumers Affairs Ministry's approval". The Economic Times. Retrieved 8 August 2014.
- ^ "Indian Commodity Regulator Pulls the Plug on Universal Commodity Exchange". forex magnates. 19 July 2014.
- ^ "Universal Commodity Exchange goes live - Livemint". livemint.com. Retrieved 8 August 2014.
- ^ "Universal Commodity Exchange, 7th in the country, goes live | Business Line". thehindubusinessline.com. Retrieved 8 August 2014.
- ^ "Universal Commodity Exchange goes live". The Economic Times. Retrieved 8 August 2014.
- ^ "National Exchanges - Forward Markets Commission, Government Of India". fmc.gov.in. Retrieved 8 August 2014.
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