Disclose details of clients' trade on websites: FMC

PTI Updated - August 09, 2012 at 08:47 PM.

To ensure greater transparency, the commodities market regulator, Forward Markets Commission (FMC) has asked national bourses to make public the information about trade undertaken by brokers and individual traders on their platforms from next week.

In a directive issued to five national-level commodity exchanges, FMC said, “The commission has decided that the exchanges should display the information (about percentage of proprietary and clients’ trade) on their websites on the day following the trading day before trading hours.”

This directive should be implemented with effect from August 13, it added.

The regulator specified that the exchanges should upload the information on their websites in a particular format with details about date, the commodity traded on each exchange by proprietary (brokers) and clients (individual traders) and their percentage of trade in total traded value.

The FMC said such a step has been taken after seeking views from the exchanges to ensure there is greater transparency in the futures trading of commodities.

At present, there are five national commodity bourses - MCX, NCDEX, NMCE, ICEX and ACE. They together made a business of Rs 6,55,535 crore in the first fortnight of July, 2012.

Apart from national level bourses, there are 16 regional commodity bourses in the country.

Published on August 9, 2012 08:44