Date:07/11/2009 URL: http://www.thehindubusinessline.com/2009/11/07/stories/2009110751501700.htm

Back NMCE gold guinea contract

Kochi, Nov. 6

National Multi-Commodity Exchange will launch gold guinea contract in Kochi on Saturday. The guinea contract will enable retail players to take part in the futures contracts. The contracts will be for a minimum of 8 gm. NMCE has signed an agreement with the Muthoot Group here on Friday to facilitate the futures trade in the guinea contract system. This has been approved by the Forward markets Commission. The Muthoot group will function as the vault agent at 22 locations in the country. There will be six locations in Kerala. Mr Rajiv Agarwal, Secretary, Consumer Affairs, Mr Kailash Gupta, Managing Director, NMCE, and Mr R.K.Agarwal, Member, Forward Markets Commission, will participate in the function to launch the gold contract.

– Our Bureau