DEFINITION of 'National Commodities And Derivatives Exchange - NCDEX'
India's largest and most recognized commodities exchange, which was established in 2003. The exchange was founded by some of India's leading financial institutions such as ICICI Bank Limited, the National Stock Exchange of India and the National Bank for Agricultural and Rural Development, among others.
BREAKING DOWN 'National Commodities And Derivatives Exchange - NCDEX'
The exchange is located in Mumbai, but has offices across the country to facilitate trade. Trading is done on 45 commodities that are integral to India's economy. These include gold, silver, Brent Crude oil, and rice, along with other agricultural products and base metals.