Universal Commodities Exchange

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Universal Commodities Exchange
Founded 2013
Headquarters Mumbai
Key People Ketan Sheth, chairman; Praveen Pillai, CEO
Products commodities exchange
Website www.ucxindia.com
Releases [www.ucxindia.com/PressReleases/235 Company News]

Universal Commodities Exchange (UCX) is an Indian-based commodities exchange, launched in April 2013 by Ketan Sheth. It is the sixth commodities exchange to be established in India and competes with larger domestic markets such as National Commodity & Derivatives Exchange and the Multi Commodity Exchange.[1][2]

The exchange offers trading in several commodities including: gold, silver, crude oil, chana, RSS4 rubber, mustard, soybeans, refined soy oil, guargum, guarseed and turmeric.[3]


Background

The exchange was created by Sheth, who established himself in the India financial markets with his own software firm called IT People. Sheth is also managing director of Commex Technology, which holds a 43 percent stake in the exchange, with a goal to reduce its stake over time to 26 percent.

UCX is also supported by IDBI Bank which holds a 15 percent stake, Nabard, 16 percent, Iffco, 15 percent and Rural Electrification Corporation, 16 percent.

Products and Services

The exchange is focused on commodities including: metals, energy and agricultural futures.

Key People

Ketan Sheth, chairman

Praveen Pillai, CEO

Anjan Choudhury, CIO

References

  1. Will Universal Commodity Exchange merge with MCX?. The Times of India.
  2. Ketan Sheth's promoted UCX gets Consumers Affairs Ministry's approval. The Economic Times.
  3. Universal Commodity Exchange, 6th in the country, goes live. The Hindu Business Line.

Exchange Commodities