Singapore Commodity Exchange and India’s National Commodity and Derivatives Exchange have signed a deal to allow cross-trading and clearing of some products on both exchanges.
NCDEX will also enable Sicom to use its agricultural commodity index to create new derivative products.
The two exchanges are hoping to strengthen the development of both markets. The heads of terms, signed in Singapore on Tuesday (May 26), will make Sicom the first foreign exchange to trade NCDEX’s products and vice versa.
The exchanges said they would choose which products...