India's National Commodities and Derivatives Exchange (NCDEx) expects to open for business by the end of November. Narendra Gupta, project head of NCDEx told FO Week that 384 members so far have been approved, of 450 that applied. "150 are in the process of networking with us and plans are to go live once a critical mass of some 150-175 brokers are connected." The exchange will offer precious metals and soft commodities.
Japan's seven commodities futures exchanges are currently in discussions over integrating their separate payment settlement systems. Lead by Tokyo Commodity Exchange, the country's largest exchange, the integration plans are to look at ways of improving efficiencies and reducing risk of default by their member firms. Currently, individual exchanges handle payment settlements separately, using designated accounts of their members and cannot offset a member's losses in one exchange with the member's profits in another exchange. However, a Tocom spokesperson...