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MCX

&

NCDEX

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MCX

Multi Commodity Exchange of India Limited

Headquartered at Mumbai.

Mr. Ashok Jha, IAS (Retd.) - Independent Chairman

Mr. Jignesh Shah - Non-Executive Vice-Chairman

It is state-of-the-art electronic commodity futures exchange.

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November 2003

Market share of over 80%

Sixth largest.

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Normal Session Agri Monday to

Friday

10:00 AM TO 05:00 PM

Normal Session Agri Saturday 10:00 AM TO 02:00 PM

Normal Session Non-Agri Monday to

Friday*

10:00 AM TO 11:30 PM

Normal Session Non-Agri Saturday 10:00 AM TO 02:00 PM

Special Session All

Commodities

Monday to

Saturday

09:45 AM TO 09:59 AM

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Dealing Alliance

All futures contracts on MCX-SX are cash settled. There are no

physical contracts.

Trading takes place on the dedicated terminals available to

the members of exchange.

All participants on the MCX-SX trading platform have to

participate only through trading members of the Exchange.

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MCX-SX stands in as the counterparty for each transaction.

All contracts that remain open at expiry are settled in Indian

rupees in cash at the reference rate specified by RBI.

Square off.

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METAL BULLION

Aluminium, Copper, Lead, Nickel, Steel Long (Bhavnagar), Steel

Long (Govindgarh), Steel Flat, Tin, Zinc

Gold, Gold HNI, Gold M, i-gold, Silver, Silver HNI, Silver M,, Silver

Micro

FIBER ENERGY

Cotton L Staple, Cotton M Staple, Cotton S Staple, Cotton Yarn,

Kapas, Jute

Brent Crude Oil, Crude Oil, Furnace Oil, Natural Gas, M. E. Sour

Crude Oil, ATF, Electricity(Now delisted), Carbon Credit

SPICES PLANTATIONS

Cardamom, Jeera, Pepper, Red Chilli, Turmeric, Cumin Seed,Coriander

Arecanut, Cashew Kernel, Coffee (Robusta), Rubber

PULSES PETROCHEMICALS

Chana, Masur, Yellow Peas, Tur, Urad HDPE, Polypropylene(PP), PVC

OIL & OIL SEEDS

Castor Oil, Castor Seeds, Coconut Cake, Coconut Oil, Cotton Seed, Crude Palm Oil, Groundnut Oil, Kapasia Khalli, Mustard Oil, Mustard

Seed (Jaipur), Mustard Seed (Sirsa), RBD Palmolein, Refined Soy Oil, Refined Sunflower Oil, Rice Bran DOC, Rice Bran Refined Oil,

Sesame Seed, Soymeal, Soy Bean, Soy Seeds

CEREALS OTHERS

Maize, Barley, Rice, Sharbati Rice, Basmati Rice, WheatGuargum, Guar Seed, Gurchaku, Mentha Oil, Potato (Agra), Potato

(Tarkeshwar)

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NCDEX

National Commodity & Derivatives Exchange Limited

(NCDEX)

Mr. R. Ramaseshan, Managing Director and CEO

December 15, 2003.

It offers futures trading in both agriculture and non-agriculture

commodities.

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The Exchange has eight shareholders:

Risk management (CRISIL)

Rural bank network (Canara Bank in the south and PNB in the

north)

Technology (ICICI Bank), agriculture (NABARD);

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On-line trading technology and derivative trading (NSE).

Market reach (IFFCO which has the largest number of farm

cooperatives);

And expertise in institution building (LIC).

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Normal Session Agri and

Coal

Monday to

Friday

10:00A.M TO

05:00P.M

Normal Session Saturday 10:00A.M TO02:00P.M

Normal Session Non-Agri Monday to

Friday

10:00A.M TO

11:55P.M

Intra day squareoff

NotAllowed

Not Allowed Not Allowed

Off line order

Timing

Not

Allowed

Not Allowed Not Allowed

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Advantages

Can buy (go long) or sell (go short) commodity futures

contracts.

Can trade with a small amount of capital.

Volatility in some markets offers potential for quick profits.

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Disadvantages

Principal is not guaranteed.

High risk due to leverage.

High price volatility could lead to margin calls.