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What is Universal Commodity Exchange mean?
Universal Commodity Exchange (UCX) was India’s sixth national level commodity exchange. It went live in 2012 but was shut down by the regulator in 2014.
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.
It received Ministry approval and Government certification on August 30, 2012. UCX started its operations on April 19, 2013 with 11 contracts in 9 commodities under the leadership of Praveen Pillai as UCX Managing director and CEO.
referencePosted on 06 Oct 2024, this text provides information on Miscellaneous in Messaging related to Messaging. Please note that while accuracy is prioritized, the data presented might not be entirely correct or up-to-date. This information is offered for general knowledge and informational purposes only, and should not be considered as a substitute for professional advice.
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